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The benchmark U.S. S&P 500 stock index ended up slightly on Monday after two days of declines, though a drop in oil prices weighed on energy shares and tensions between the United States and North Korea kept investors on edge. Market participants began to turn their focus to the Federal Reserve meeting at Jackson Hole, Wyoming later this week which will be attended by Fed Chair Janet Yellen, European Central Bank president, Mario Draghi, and other global central bankers.
The S&P 500 ticked up 0.1% to 2,428.37 today, while the Dow Jones Industrial Average advanced 29.24 points, or 0.1%, to 21,703.75. The Nasdaq Composite dipped 0.1% to 6,213.13. Clearview Trading Advisors' Jeff Weiss contends that the bears deserve some credit following last week's downdraft: Between the market’s shorter-term and longer-term trends, we’ve felt for several weeks now that it was the former that showed signs of increased fatigue.