Wall Street’s major stock indexes closed with mixed results on Monday, as the S&P 500 and Nasdaq Composite fell, while the Dow Jones Industrial Average recorded gains. The fluctuating performance came amid rising energy prices and uncertainties in the technology sector, which kept the market near recent highs.
The S&P 500 slipped 0.1% to 7,807.24, and the Nasdaq Composite decreased by 0.4% to 27,245.90. In contrast, the Dow Jones Industrial Average rose by 0.4% to 51,850.55. Gains in communication services and energy sectors provided some support, with Meta Platforms increasing by 3.4% and Chevron up by 1.4%.
Despite these gains, the broader market was limited by declines in major technology stocks. Micron Technology saw a drop of 3.9%, Advanced Micro Devices fell 2.3%, Broadcom decreased 1.9%, and Nvidia lost 1.3%. Investors are paying close attention to corporate earnings, particularly regarding whether the artificial intelligence boom will lead to sustained revenue and profit growth.
Oil prices have continued to climb due to the ongoing conflict involving the United States and Iran, raising concerns about its impact on global energy supplies. Brent crude rose 1.8% to settle at $106.65 per barrel, fueling worries about inflation, household spending, and transportation costs.
Market participants are also gearing up for crucial U.S. economic reports on consumer inflation, producer prices, and retail sales, which could impact expectations for Federal Reserve interest-rate decisions. Higher borrowing costs have already affected the housing market, while major banks are scheduled to report quarterly earnings this week.
Globally, European markets advanced, whereas most Asian markets experienced declines. Investors are focused on whether the trends in corporate earnings, inflation, and energy prices will support the stock market’s recent gains.