Wall St. rises following last week’s slide
NEW YORK — Most U.S. stocks ticked higher Monday to recover some of their sharp slide from last week.
The S&P 500 rose 0.4% for its first gain in three days. The Dow Jones Industrial Average slipped 55 points, or 0.1%, and the Nasdaq composite gained 0.6%.
CVS Health rallied 5.4% after adding four new directors to its board. The health giant did so following discussions with a major investor, hedge-fund owner Glenview Capital Management. Its CEO, Larry Robbins, is one of the new directors.
Liberty Energy also helped pull the market upward after rising 4.9%. President-elect Donald Trump named its CEO, Chris Wright, as his Secretary of Energy.
Trading of Spirit Airlines’ stock, meanwhile, was halted after the budget carrier reached an agreement with its debtholders on a plan to take it through Chapter 11 bankruptcy protection. The airline will continue to fly while it restructures, but it will also likely wipe out the holdings of all its current stock investors.
All told, the S&P 500 rose 23.00 points to 5,893.62. The Dow fell 55.39 to 43,389.60, and the Nasdaq composite rose 111.69 to 18,791.81.