Stocks Close Modestly Higher After Seeing Initial Weakness

After initially moving to the downside, stocks turned higher over the course of the trading session on Monday. With the turnaround on the day, the Dow and the S&P 500 once again climbed to new record closing highs.

The major averages ended the session modestly higher. The Dow crept up 15.68 points or 0.1 percent to 20,837.44, the Nasdaq rose 16.59 points or 0.3 percent to 5,861.90 and the S&P 500 edged up 2.39 points or 0.1 percent to 2,369.73.

Profit taking contributed to the early weakness on Wall Street following recent strength, although selling pressure remained relatively subdued.

The subsequent rebound reflected recent upward momentum amid optimism about pro-business policies under President Donald Trump.

Trump is due to speak to a joint session of Congress on Tuesday, and traders will be looking for details on his promises of tax reform, deregulation and infrastructure spending.

In economic news, the Commerce Department released a report showing a rebound in durable goods…

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