Some minor gains, but myriad decliners on Birmingham stock report

Some minor gains, but myriad decliners on Birmingham stock report

Negative numbers were again the norm on Monday on our Birmingham and Alabama Stock Report, but a few stocks of local interest managed to pull out some gains.

ServisFirst Bancshares, Inc. was near the top, gaining 1.1%. It is a bank-holding company based in Birmingham, with ServisFirst Bank as its subsidiary.

Warrior Met Coal pulled in a modest .7% gain.

Overall, Wall Street swung to a mixed finish Monday, continuing a monthslong run where it’s slavishly followed the cue of the bond market.

The S&P 500 slipped 7.12 points, or 0.2%, to 4,217.04, coming off its worst week in a month. The Dow Jones Industrial Average dropped 190.87, or 0.6%, to 32,836.41. The Nasdaq composite rose 34.52, or 0.3%, to 13,018.33.

Rapidly rising yields in the bond market have been pressuring stock prices since the summer, and they seemed set to climb further. Early Monday, the yield on the 10-year Treasury briefly topped 5.02% to touch its highest level since 2007. That helped to torpedo stocks, and the S&P 500 quickly slumped 0.8%.