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S&P 500 turns positive for 2018

U.S. stocks rose broadly on Monday, with the S&P 500 returning to positive territory for the year. The index rose 0.7% to 2,674, just barely turning green for the year, having ended 2017 at 2,673.61. The S&P has seen a resurgence of volatility this year. After gaining to a record close of 2,872.87 in late January, it subsequently corrected, dropping to a 2018 closing low of 2,581. It has since traded in a range, as investors weight such tailwinds as improving earnings growth and a strong labor market against the potential headwinds of trade uncertainty and the prospect of inflation returning to markets. If the S&P closes in positive territory for the year on Monday, that will mark the first time it has done so since March 21. At current levels, the S&P is down about 7% from its record. The Dow Jones Industrial Average rose 0.8% on Monday but remains down 0.7% for 2018. The Nasdaq Composite Index rose 0.4%, and is up 3.3% for 2018.

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