Weakness in megacaps weighed on equities Monday as the major averages ended narrowly mixed. Trading was hesitant ahead of US consumer price figures due Tuesday, and the S&P 500 struggled to extend its recent move above 5000.

The Dow Jones industrial average rose 0.3 percent, the S&P 500 eased 0.1 percent, and the Nasdaq lost 0.4 percent. US Treasury yields were mixed while dollar and oil prices rose.

Megacap favorites including Microsoft, Apple, Amazon and Tesla depressed the averages. On the positive side, a recovery in regional bank shares and strength in small caps provided support.

Among sectors, rising oil prices helped energy stocks outperform. Other winners included financials, materials, and communications services. Lagging were real estate, health care, and consumer discretionary. Tesla had a bad day to depress consumer discretionary shares after the EV maker announced new price cuts intended to spur flagging demand.

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.