How major US stock indexes fared Monday 5/1/2023

·1-min read

Stocks drifted to a mixed close on Wall Street as investors braced for what they hope will be the last hike to interest rates for a long time.

The S&P 500 closed virtually unchanged Monday as the latest historic U.S. banking failure made few waves in markets. Regulators seized First Republic Bank and sold off most of it in hopes of preventing more turmoil in the industry.

Treasury yields rose amid firming expectations for the Federal Reserve to raise rates again later this week. Also coming later this week are earnings reports from several heavy hitters, including Apple.

On Monday:

The S&P 500 fell 1.61 points, or less than 0.1%, to 4,167.87.

The Dow Jones Industrial Average fell 46.46 points, or 0.1%, to 34,051.70.

The Nasdaq composite fell 13.99 points, or 0.1% to 12,212.60.

The Russell 2000 index of smaller companies rose 0.22 points, or less than 0.1%, to 1,769.21.

For the year:

The S&P 500 is up 328.37 points, or 8.6%.

The Dow is up 904.45 points, or 2.7%.

The Nasdaq is up 1,746.12 points, or 16.7%.

The Russell 2000 is up 7.96 points, or 0.5%.