How major US stock indexes fared Monday, 8/21/2023

Wall Street closed mixed, holding a bit firmer following its three-week losing streak. The S&P 500 rose 0.7% Monday as gains for Tesla, Microsoft and other Big Tech stocks lifted the index. That’s even though the majority of stocks fell. The Dow fell 36 points, and the Nasdaq composite rose 1.6%. In the bond market, the 10-year Treasury yield touched its highest level since 2007. The week’s main event is likely to be a Friday speech by Federal Reserve Chair Jerome Powell. The Jackson Hole, Wyoming setting has been the site of major policy announcements in the past by the Fed.