Highlights
Losses in big technology stocks weighed on the major equity indexes Monday as the market corrected gains from last week -- with Alphabet and Spacex the featured losers. The Dow Jones industrial average firmed 0.3 percent while the S&P 500 lost 0.4 percent and the Nasdaq was off 1.3 percent. Bond yields and the dollar rose while oil prices declined as US-Iran talks continued.
The Dow outperformed as cyclical plays see cash influx out of big tech/Magnificent Seven. Energy stocks had a bad day as oil prices continued lower amid somewhat hopeful comments about US-Iran talks in Switzerland from the US side. Bond yields continued higher as the market continues pricing in a more hawkish Federal Reserve after last week's Fed policy announcement.
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.