Stocks ended narrowly mixed in quiet trading Monday as investors were cautious before Federal Reserve Chair Jerome Powell's appearances scheduled on Tuesday and Wednesday. The Dow Jones industrial average and the S&P 500 both firmed 0.1 percent and the NASDAQ eased by 0.1 percent. US Treasury yields and oil prices rose while the dollar slipped.

Stocks started better but retreated through the day as Treasury yields rose and as many players took profits after Friday's strong rally. Markets are wary of hawkish noises from Fed Chair Powell during his annual appearance before Congress staring Tuesday morning. Markets are also fretting about possible upside surprises in US job openings data due Wednesday and the monthly employment situation report on Friday.

Among sectors best were technology, communications services, and industrials, while lagging were consumer discretionary, materials, and energy. Apple put in a strong performance to bolster the major indexes after a buy recommendation from Goldman Sachs. Tesla was a notable loser after cutting prices on two of its pricier models.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.