Technology and energy companies helped pull stocks lower on Wall Street on Monday, a downbeat start to the week after the market's best weekly gain since February.
Elite grocery chain Erewhon is embarking on an aggressive expansion in Southern California. Started as a humble bulk grains outlet, its cult success is rewriting the rules of the supermarket business.
Stocks have been mostly pushing higher, despite a volatile stretch in late November as worries about the rise of the Omicron variant of the coronavirus initially roiled markets. Some of those concerns eased last week amid encouraging signs that the variant may be less dangerous than Delta. Several big pharmaceutical companies, including COVID-19 vaccine makers Moderna and Pfizer, were among the biggest gainers in the S&P 500 on Monday. Moderna jumped 5.8% for the biggest gain in the index.More than 60% of the stocks in the S&P 500 fell, with technology stocks, banks and a mix of companies that rely on consumer spending weighing the index down most. Nvidia fell 6.8% for the biggest drop in the S&P 500. Bank of America dropped 2.1% and General Motors slid 6.5%.
In addition to the Federal Reserve’s policy statement, investors will be monitoring several economic reports this week to gain more insight into economic growth as 2021 comes to a close and the world continues to try to shake off the effects of COVID-19.
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