Stock market benchmarks pushed into record territory last week, so it was only natural that they might take a pause to begin the new week on Monday. Even with modest losses for major averages, market participants remain largely upbeat on the prospects for continued economic recovery and the potential for things to get back to normal. Just before 11:30 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 72 points to 33,729. The S&P 500 (SNPINDEX: ^GSPC) had lost 7 points to 4,122, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had given up 69 points to 13,832.
Yet there were some stocks that managed to defy the downturn and move higher. One of the largest was Alibaba Group (NYSE: BABA) , which climbed despite getting what might seem like bad news. Meanwhile, Chipotle Mexican Grill (NYSE: CMG) got a vote of confidence on Wall Street, and the high-growth Mexican food chain could see further gains if things go as many bullish investors expect.
Shares of Alibaba Group were up more than 8% Monday morning. The Chinese internet giant got hit by a big fine, but many shareholders had expected potentially much harsher consequences for some recent incidents.
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Alibaba Breathes a Sigh of Relief, Chipotle Sizzles as Markets Fizzle