Highlights
Mixed news on the US-Iran war left stocks mixed Monday. Signals from the US that renewed war was imminent clashed with President Trump's announcement that he had called off a planned attack on Iran for now. The Dow Jones industrial average firmed 0.3 percent, the S&P 500 lost 0.1 percent and the Nasdaq was off 0.5 percent. Oil prices rose, bond yields were mixed with long yields higher, and the dollar declined.
Technology shares had a bad day to depress the Nasdaq amid signs of rotation out of technology and growth shares into cyclicals and value sectors. Real estate, financials, energy and communications services outperformed while technology, consumer discretionary, industrials and utilities lagged.
Definition
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.
Description
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.