Birmingham stocks see fair share of losses

Birmingham stocks see fair share of losses

A turn of the calendar didn’t change the recent negative vibes on our Birmingham and Alabama Stock Report. All but seven on our list saw losses Monday.

Banking interests took the biggest hits, with Synovus and Regions dropping 4.1% and 4%, respectively. Birmingham-based Medical Properties Trust also lost 4%, while behemoths 3M and Target lost 3.6% and 3.5%, respectively.

Some banks did show gains. First US Bancshares was the biggest gainer at 2.2%. ServisFirst lifted nearly 1%.

Overall, stocks mostly slipped in mixed trading Monday as the constrictor of higher interest rates tightened its coils around Wall Street.

The S&P 500 edged up by 0.34, or less than 0.1%, to 4,288.39, coming off its worst month of the year. The Dow Jones Industrial Average dropped 74.15 points, or 0.2%, to 33,433.35, and the Nasdaq composite rose 88.45, or 0.7%, to 13,307.77.

Slumps for oil-and-gas stocks weighed on the market after crude prices gave back some of the sharp gains made since the summer. The majority of stocks fell alongside them, with more than three quarters of those within the S&P 500 sinking but gains for Apple and other influential Big Tech stocks helped support indexes.