Highlights
Equities were mostly lower Monday with a selloff in momentum and chip stocks weighing on the Nasdaq and more than offsetting the positive effect of lower bond yields and cheaper oil prices.
The Dow industrials rose 0.3 percent while the S&P 500 lost 0.3 percent and the Nasdaq was down 0.8 percent. The dollar edged up. Bond yields were lower after Treasury Secretary Scott Bessent’s latest Treasury buyback plans.
Megacaps had a bad day with Nvidia and Tesla leading the losers. Energy stocks fell with lower oil prices. Other decliners included trucking, pharma, and China technology shares. Best performers included consumer staples, travel & leisure, discount stores, and restaurant chains.
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