Dow Jones gains 264 points, snaps five-day losing streak

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Sept. 13 (UPI) — The Dow Jones Industrial Average closed with gains on Monday, snapping a five-day losing streak.

The blue-chip index gained 264.08 points, or 0.76%, and the S&P 500 closed the day up 0.23%. The Nasdaq Composite ended the day mostly flat, falling 0.066%.

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UnitedHealth Group gained 2.63%, Intel rose 2.14%, Boeing stock climbed 1.99% and American Express closed the day up 1.72% to lead the Dow higher.

Energy stocks also saw gains as oil prices climbed with APA Corp climbing 7.81%, Marathon rising 7.14% and Occidental Petroleum increasing 6.69%.

Travel stocks also saw a boost as Carnival gained 2.46%, while Delta climbed 2.08%.

Nike stock fell 2.49% as BTIG downgraded the stock, stating supply chain issues due to the pandemic could cause production issues that could impact the company’s holiday sales.

“Supply bottlenecks, inventory shortages, higher commodity prices, and higher shipping rates have all contributed to higher input costs,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

Investors will also continue to look ahead to the Fed’s two-day policy meeting, which is set to begin Sept. 21 as they await information about plans for the central bank’s bond-buying program.

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