The stock market was open on Tuesday after closing for Presidents Day, but some on Wall Street likely stayed on vacation.
The major indexes were barely moving in morning trading. The S&P 500 was right at breakeven, hovering just below a fresh record close. The Nasdaq Composite was down 0.2%. The Dow was down 50 points, or 0.1%. The Dow would be rising if not for UnitedHealth Group, which shaved 81 points off the blue-chip index on its own.
Stocks are coming off a solid week of gains despite some worries about inflation. Sevens Report Research’s Tom Essaye told Barron’s that Wall Street continues to express some relief related to global trade.