Equities were flat to down Monday with the market consolidating after weeks of gains. The Dow Jones industrial average and the S&P 500 both slipped 0.2 percent and the Nasdaq eased 0.1 percent. US Treasury yields and oil prices declined while the dollar rose.

Bond yields fell as new home sales figures came in much weaker than expected. Lower yields helped limit the equities selloff and supported megacaps. Retail stocks sagged as the market awaited news on post-Thanksgiving sales.

Most stocks weakened with sectors mixed. Best performers included consumer discretionary, technology, and utilities. Semiconductors had a good day to lift technology. Lagging sectors were industrials, communications services, health care, and energy.

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.