Birmingham stock show gains on down day

Birmingham stock show gains on down day

The hits kept coming on our Birmingham and Alabama Stock Report, but at least there were a few gains Wednesday to counter the losses.

Target, the owner of Birmingham-based Shipt, led the gainers at 3%. U.S. Steel and Warrior Met Coal were each up 1.4%.

Community Health Systems (2.6%), Medical Properties Trust (2.6%), Amazon (1.9%) and Synovus (1.8%) all found themselves on the losing side.

Overall, Wall Street weakened Wednesday to worsen what’s already been a messy August.

The S&P 500 fell 33.53, or 0.8%, to 4,404.33, following up on its prior day’s tumble of 1.2%. The Dow Jones Industrial Average lost 180.65 points, or 0.5%, to 34,765.74, and the Nasdaq composite dropped 156.42, or 1.1%, to 13,474.63.

Increased pressure came from the bond market, where yields have recently neared their highest levels since the Great Recession sent interest rates collapsing. Yields climbed more following the afternoon release of the minutes from the Federal Reserve’s latest meeting.