Stocks end mostly higher; Wendy’s becomes latest meme stock

Associated Press
Tuesday, June 8, 2021 4:37 p.m. | Tuesday, June 8, 2021 4:37 p.m.

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AP

The Federal Hall statue of George Washington overlooks the New York Stock Exchange on Monday.

Major indexes closed mostly higher on Wall Street, thanks largely to gains in a handful of Big Tech companies.

Small-company stocks continued to outpace the rest of the market, while investors’ attention turned to huge gains in a new batch of “meme” stocks favored by online investors, including Wendy’s and Clover Health.

The S&P 500 was nearly unchanged, while the tech-heavy Nasdaq rose 0.3%.

Fastly, an internet cloud services provider, rose 10.8% after the company said it had addressed an internal problem that caused dozens of websites around the globe to go down briefly. Treasury yields fell.