U.S. stock indexes closed mostly higher Monday, snapping a four-day losing streak for the Dow Jones industrial average on a day of largely listless trading.
Utilities led the gainers as falling bond yields made high-dividend companies more attractive to income-seeking investors. Phone companies and real estate investment trusts, which also tend to offer high yields, notched gains. Financial stocks also did well. Technology companies declined the most, giving up gains from an early rally.
“It’s a pretty low volatility day and a continuation of the trend we saw last week, which is equity markets largely treading water,” said Bill Northey, chief investment officer at the private client group at U.S. Bank Wealth Management.