US Stocks Close Mixed as Tech Shares Decline and Energy Rallies
Major U.S. stock benchmarks closed mixed on Monday as weakness in technology stocks offset gains in energy, communication services, and consumer staples. The S&P 500 (SP:SPX) dipped 0.06% to 7,807, while the Nasdaq Composite lost 0.4%. In contrast, the Dow Jones Industrial Average gained 196 points. Tech sentiment was dragged down by Micron Technology (MU), which dropped 3.9% amid rising competition from China's CXMT, and Nvidia (NVDA), which fell 1.3%. However, Meta Platforms (META) rose 3.4% following the launch of a new AI model, Salesforce (CRM) gained 2.1% on a Bank of America upgrade, and Chevron (CVX) climbed 1.4%.
Energy shares drew support from rising crude oil prices following weekend strikes on the airport in Riyadh. Geopolitical worries were further heightened after Ukrainian President Volodymyr Zelenskyy stated that Russia had continued targeting energy infrastructure, despite U.S. President Donald Trump noting fresh Russian diesel exports and pointing to a Russia-Ukraine ceasefire on energy facilities.
The mixed trading session comes as market participants prepare for the upcoming corporate earnings season. Traders are also closely monitoring key U.S. inflation readings due later in the week to assess the outlook for the economy and interest rates.
Key points
- The S&P 500 fell 0.06% to 7,807 and the Nasdaq lost 0.4%, while the Dow added 196 points.
- Micron fell 3.9% on Chinese competition concerns, and Nvidia dropped 1.3%.
- Meta climbed 3.4% after releasing an AI model, and Salesforce rose 2.1% on an upgrade.
- Crude oil prices advanced following weekend strikes on Riyadh's airport and ongoing energy grid targets.
- Investors are focused on upcoming U.S. inflation data and the start of earnings season later this week.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
Why did US stock markets close mixed on Monday?
The S&P 500 and Nasdaq were pressured by losses in technology stocks like Micron and Nvidia, while the Dow gained due to outperformance in energy, consumer staples, and communication services.
Why did oil prices and energy stocks rise?
Oil prices increased following deadly weekend strikes on Riyadh's airport and ongoing concerns over Ukrainian energy infrastructure after reported Russian attacks on facilities.
What economic events are investors watching this week?
Investors are preparing for the start of corporate earnings season and waiting for crucial U.S. inflation data scheduled to be published later in the week.