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Close Update: Wall Street Recoups Losses in Wobbly Session as Tech, Financials Advance

Wall Street was mixed on Monday, paring losses into the close as gains in tech and financial stocks helped the measures move into the green, even as the benchmarks were constrained by losses in energy and consumer names.

The choppy session came amid continued worries about the impact of the trade dispute that deepened this week on the start of retaliatory tariffs on a number of US exports and talk from President Donald Trump about the World Trade Organization.

The US Chamber of Commerce said the levies coming into effect are hitting $75 billion of exports and are already starting to take effect on the world's biggest economy, risking jobs and businesses. And amid reports that Trump is looking to take the US out of the WTO, markets were digesting the leader's comments that he's not "planning anything now" but "will be doing something" if the body doesn't treat the country properly.

Gainers outnumbers the decliners on the Dow by an almost two-to-one ratio, with Goldman Sachs ( GS ) and Microsoft ( MSFT ) rising while Walmart ( WMT ) weakened 1.9%. Nike ( NKE ) shed 1.7% as Roger Federer opened his title defense at Wimbledon title defense in a Uniqlo outfit, rather than Nike.

The recovery in sentiment late in the session helped the measures start the new quarter in the green, a trajectory that should continue with equities poised to push new highs, Raymond James said in a note earlier Monday.

Still, volumes were well below their averages for all three measures ahead of a shortened trading session Tuesday and the closure for the Independence Day holiday on Wednesday. Financials rose 0.7% and tech was up about 1%, while energy fell 1.6% as oil prices came off their recent highs.

Here's where the markets stood by the close:

US MARKETS

Dow Jones Industrial Average was up 35.77 points (+0.15%)

S&P 500 was up 8.34 points (+0.31%)

Nasdaq Composite Index was up 57.38 points (+0.76%)

GLOBAL SENTIMENT

FTSE 100 was down 1.17%

Nikkei 225 was down 2.21%

Hang Seng Index was closed

Shanghai China Composite Index was down 2.52%

UPSIDE MOVERS

(+) RSYS (+120.28%) Agrees to be acquired by India's Reliance Industries

(+) BASI (+19.39%) Combines operations with Wave Laboratories to provide broader solutions to clients

(+) DVMT (+9.01%) Dell buying out VMware tracking shares in stock-or-cash deal

(+) RUN (+7.76%) Credit Suisse raises PT to $22 from $16

(+) NANO (+5.06%) Price target raised to $42 from $35 at DA Davidson

DOWNSIDE MOVERS

(-) SDRL (-52.56%) Emerges from Chapter 11 bankruptcy protection

(-) MDXG (-38.5%) CEO and COO resign amid internal probe

(-) DOMO (-13%) Gives back some gains after trading debut Friday

(-) WYNN (-7.89%) Reacts to weaker-than-expected Macau gaming revenues in June

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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