U.S. stock markets finished the trading day split on Monday, with strength concentrated in Oil & Gas, Healthcare and Industrials, and notable weakness across Consumer Services, Technology and Consumer Goods. The Dow Jones Industrial Average ended higher, while the S&P 500 and the Nasdaq Composite closed in negative territory.
At the New York Stock Exchange close, the Dow Jones Industrial Average rose 0.29%. By contrast, the S&P 500 slipped 0.37% and the Nasdaq Composite declined 1.33%.
Dow contributors and detractors
On the Dow, Caterpillar Inc (NYSE:CAT) led gains, advancing 3.70% or 36.44 points to finish at 1,022.26. Amgen Inc (NASDAQ:AMGN) added 2.11% or 7.12 points to close at 344.72, and JPMorgan Chase & Co (NYSE:JPM) rose 2.01% or 6.54 points to 331.76 in late trade.
By contrast, several large-cap technology and consumer names weighed on market sentiment. Amazon.com Inc (NASDAQ:AMZN) fell 4.75% or 11.60 points to end at 232.79. Nike Inc (NYSE:NKE) declined 4.42% or 2.00 points to 43.20, and Microsoft Corporation (NASDAQ:MSFT) was down 3.20% or 12.14 points to 367.26.
S&P 500 movers
On the S&P 500, the top performers included Super Micro Computer Inc (NASDAQ:SMCI), which rose 15.66% to 35.46, ON Semiconductor Corporation (NASDAQ:ON) which gained 8.14% to settle at 131.52, and Corning Incorporated (NYSE:GLW) which increased 7.62% to close at 209.78.
The heaviest losses on the S&P 500 were recorded by Moderna Inc (NASDAQ:MRNA), down 7.22% to 59.35; Palantir Technologies Inc (NASDAQ:PLTR), which fell 6.98% to 119.50; and VeriSign Inc (NASDAQ:VRSN), which lost 6.40% to end at 247.69.
Nasdaq leaders and laggards
The Nasdaq Composite's session leaders were dominated by highly volatile names: Basel Medical Group (NASDAQ:BMGL) surged 1,095.16% to 7.41, Boxlight Corp Class A (NASDAQ:BOXL) jumped 500.00% to 3.58, and Nexentis Technologies Inc (NASDAQ:NXTS) gained 155.91% to close at 13.00.
On the downside, the worst performers on the Nasdaq included Xiao I Corp ADR (NASDAQ:AIXI), down 51.12% to 3.06; Lichen China Ltd (NASDAQ:LICN), which fell 44.24% to 1.21; and Sadot Group Inc (NASDAQ:SDOT), which declined 42.83% to 9.25 at the close.
Market breadth and notable records
Declining issues outnumbered advancing ones on both major exchanges. On the New York Stock Exchange, 1,588 stocks fell and 1,157 advanced, with 82 unchanged. On the Nasdaq, 1,959 issues were down, 1,480 advanced, and 139 were unchanged.
Several stocks registered milestone moves: Palantir Technologies (NASDAQ:PLTR) traded down to 52-week lows at 119.50, a drop of 6.98% or 8.97. Corning Incorporated (NYSE:GLW) rose to an all-time high, adding 7.62% or 14.86 to reach 209.78. Caterpillar Inc (NYSE:CAT) also climbed to an all-time high, gaining 3.70% or 36.44 to 1,022.26. Boxlight Corp Class A (NASDAQ:BOXL) moved to an all-time low price level despite a 500.00% intraday increase, finishing at 3.58.
Volatility, commodities and currencies
The CBOE Volatility Index, which reflects implied volatility on S&P 500 options, rose 2.98% to 17.28.
In commodities, Gold Futures for August delivery declined 0.88% or 37.53 to $4,208.37 a troy ounce. Crude oil for August delivery fell 2.43% or 1.84 to $74.01 a barrel, and the September Brent oil contract dropped 3.05% or 2.44 to trade at $77.61 a barrel.
In currency markets, EUR/USD was unchanged 0.37% to 1.14, while USD/JPY rose 0.18% to 161.60. The US Dollar Index Futures increased 0.16% to 100.78.
Intraday index snapshot
The interactive data line for the S&P 500 showed a close at 7,473.03, down 27.55 points or 0.37% at 15:59:58.
What to watch
Monday's session was characterized by a split leadership across sectors. Industrials and healthcare names helped lift the Dow, while technology and consumer-related stocks pressured the S&P 500 and Nasdaq. Market participants also saw notable single-stock volatility among smaller-cap and micro-cap listings on the Nasdaq, where several names posted very large percentage moves in both directions.