Stock market news for August 31, 2020

Stock market news

“Stocks were mixed on Monday as the S&P 500 and Dow Jones Industrial Average wrapped up their best August performances since the 1980s.

The Dow slid 223.82 points, or 0.8%, to 28,430.05 and the S&P 500 dipped 0.2% to close at 3,500.31. The Nasdaq Composite outperformed with a 0.7% gain and ended the day at 11,775.46.

Declines in bank stocks pressured both the Dow and S&P 500. JPMorgan Chase, Citigroup, Bank of America and Wells Fargo were all down more than 2%, following Treasury yields lower. Yields fell after Federal Reserve Vice Chairman Richard Clarida said rates won’t go up just because unemployment goes down.

Meanwhile, the Nasdaq got a lift after two big stock splits took effect Monday. Apple shares gained 3.4% as a 4-for-1 split took effect. Tesla shares added 12.6% following its 5-for-1 split.

The Dow rallied 7.6% this month for its biggest August gain since 1984. The S&P 500 rose 7% month to date for its best August performance since 1986.”

Stock market data: CNBC

Stock market at the close on August 31, 2020

S&P 500: 3,500.31,-7.70(-0.22%)
Dow 30: 28,430.05,-223.82(-0.78%)
Nasdaq: 11,775.46,+79.82(+0.68%)
Russell 2000: 1,561.88,-16.47(-1.04%)

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