Stocks ended mixed Monday after recovering from the day's worst levels amid bargain-hunting. Growth stocks lagged as rising bond yields hurt sentiment. The Dow Jones industrial average rose 0.9 percent, the S&P 500 firmed 0.2 percent and the Nasdaq lost 0.4 percent. US Treasury yields rose, the dollar was mostly higher, and oil prices rallied.

After the surprisingly strong employment report on Friday, investors fret that US rate cuts are increasingly unlikely in the current cycle. Rising oil prices Monday helped energy shares outperform but added to concern about sticky inflation.

Activity was cautious Monday as the market awaits producer price and consumer price figures due Tuesday and Wednesday, and retail sales on Thursday.

Among sectors, energy, materials, health care, industrials and consumer staples fared best. The Dow outperformed with a boost from a rally in United Health after the Biden administration proposed raising payout rates for Medicare. Lagging were technology, communications services and utilities.

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.