Wall St ends up with growth stocks
U.S. stocks ended a choppy session slightly higher on Monday, helped by gains in Amazon.com and other mega-cap growth shares
while persistent worries over inflation and interest rates kept a lid on the market.
Shares of Amazon.com Inc (AMZN.O) rose 2% and were the biggest positive for the S&P 500 and Nasdaq after the online retailer split its shares 20 for 1.
Apple Inc shares climbed 0.5%, at its annual software developer conference announced among other things that it would more deeply integrate its software into the core driving systems of cars.
Among sectors, consumer discretionary (.SPLRCD) and communication services (.SPLRCL) had the day's biggest gains.
But investors remain focused on inflation and rising interest rates.
A U.S. consumer price index report on Friday is expected to show still-high inflation, and U.S. Treasury yields rose on Monday
A solid jobs report on Friday lowered hopes of a pause in the Federal Reserve's aggressive policy-tightening plan to fight inflation.
"There's been a push-pull in the markets now for a while," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.
Thick Brush Stroke
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