The stock market got off to a slow start on Monday morning, moving lower as investors await more signs of how the broader economy is doing. Many market participants are anxious about what Friday’s latest figure on employment will say, especially in light of ongoing nervousness about the pace of COVID-19 immunizations and the high expectations that Wall Street has about a likely economic boom in 2021.
As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 138 points to 32,935. The S&P 500 (SNPINDEX: ^GSPC) lost 29 points to 3,946, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was lower by 154 points to 12,984.
Yet even as the broader market fell, a couple of stocks were posting gains based on strategic moves. Fly Leasing (NYSE: FLY) is likely to stop being a publicly traded company in the near future, but Houghton Mifflin Harcourt (NASDAQ: HMHC) took a slightly different tack that should benefit shareholders in the years to come.