NEW YORK: US stocks finished mixed on Monday as investors digested major oil producers’ decision to cut output, while parsing a slew of weak US economic data.
The Dow Jones Industrial Average rose 327.00 points, or 0.98 percent, to 33,601.15. The S&P 500 increased 15.20 points, or 0.37 percent, to 4,124.51. The Nasdaq Composite Index was down 32.46 points, or 0.27 percent, to 12,189.45.
Seven of the 11 primary S&P 500 sectors ended in green, with energy and health care up 4.91 percent and 1.08 percent, respectively, outpacing the rest. Real estate dipped 0.95 percent, the worst-performing group.
Energy-related stocks rallied after the Organization of the Petroleum Exporting Countries and its allies on Sunday unexpectedly announced crude output cuts of more than 1 million barrels per day from May.
Meanwhile, the markets were weighed by data showing economic activity in the US manufacturing sector contracted in March for the fifth consecutive month. (APP)