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Nov. 22, 2021, 4:12 p.m. EST

Dow clings to gains as U.S. stocks end mostly lower Monday after Biden picks Powell as Fed Chair

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By Christine Idzelis

The Dow Jones Industrial Average closed slightly higher Monday, clinging to gains after President Joe Biden announced that he picked Federal Reserve Chair Jerome Powell to serve a second term. The Dow /zigman2/quotes/210598065/realtime DJIA +1.65% gained less than 0.1%, while the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +3.13% , a technology-heavy index viewed as sensitive to moves in interest rates, closed about 1.3% lower, and the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.43% slipped about 0.3%, according to preliminary data from FactSet. Although the S&P 500 slipped slightly, the index's financial sector rose more than 1%, FactSet data show. Shares of Wall Street banks rallied Monday, with Wells Fargo & Co. /zigman2/quotes/203790192/composite WFC +0.80% rising about 3% and Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS +1.75% , JPMorgan Chase & Co. /zigman2/quotes/205971034/composite JPM +0.89% and Morgan Stanley /zigman2/quotes/209104354/composite MS +1.34% all rising more than 2%, preliminary data from FactSet show. The yield on the 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -1.81% rose 9 basis points to 1.625%, according to Dow Jones Market Data.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,725.47
+564.69 +1.65%
Volume: 568.44M
Jan. 28, 2022 4:54p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
13,770.57
+417.79 +3.13%
Volume: 4.24M
Jan. 28, 2022 5:16p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,431.85
+105.34 +2.43%
Volume: 2.91B
Jan. 28, 2022 4:54p
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/zigman2/quotes/203790192/composite
US : U.S.: NYSE
$ 54.19
+0.43 +0.80%
Volume: 35.52M
Jan. 28, 2022 4:02p
P/E Ratio
10.89
Dividend Yield
1.48%
Market Cap
$208.90 billion
Rev. per Employee
$306,881
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 347.01
+5.98 +1.75%
Volume: 3.71M
Jan. 28, 2022 4:00p
P/E Ratio
5.85
Dividend Yield
2.31%
Market Cap
$114.17 billion
Rev. per Employee
$1.60M
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 146.61
+1.30 +0.89%
Volume: 14.12M
Jan. 28, 2022 4:00p
P/E Ratio
9.55
Dividend Yield
2.73%
Market Cap
$429.43 billion
Rev. per Employee
$497,080
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/zigman2/quotes/209104354/composite
US : U.S.: NYSE
$ 101.80
+1.35 +1.34%
Volume: 14.04M
Jan. 28, 2022 4:02p
P/E Ratio
12.68
Dividend Yield
2.75%
Market Cap
$181.50 billion
Rev. per Employee
$898,838
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.77
-0.03 -1.81%
Volume: 0.00
Jan. 28, 2022 4:56p
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