Stocks pull back from earlier gains, still manage positive finish

Wall Street
Photo credit Getty Images

After a selloff yesterday, stocks managed very narrow gains today, concluding a volatile trading session. The Dow Jones Industrials gained 53 points, the S&P 500 edged up 9, and the Nasdaq Composite rose 39.

The cost to restore electricity and repair power lines damaged across Louisiana by Hurricane Laura: $1.4 billion. That’s the word from Entergy, which says that power has been restored to almost all customers now.

Demand for housing is very strong right now. Data out today show that sales of newly built homes rose 4.8 percent in August from July to an annual rate above 1 million – a 14-year high. Compared to a year earlier, sales of new single-family homes were up a sharp 43 percent.

Oil futures finished modestly higher. November crude rose 38 cents to settle at $40.31 a barrel.