U.S. stocks finished the trading session mixed on Monday, as gains in Oil & Gas, Telecoms and Financial firms helped lift parts of the market while declines in Technology, Industrials and Consumer Goods weighed on broader indexes.
At the New York Stock Exchange close, the Dow Jones Industrial Average gained 0.32%. The S&P 500 retreated 0.07%, and the NASDAQ Composite fell 0.51%.
Top and bottom movers on the Dow
On the Dow, 3M Company (NYSE:MMM) was the session's top performer, rising 4.32% or 6.31 points to finish at 152.53. Salesforce Inc (NYSE:CRM) added 3.44% or 5.97 points to end at 179.48, and Chevron Corp (NYSE:CVX) climbed 2.63% or 5.02 points to 196.12.
At the other end, Caterpillar Inc (NYSE:CAT) led decliners, falling 2.76% or 24.50 points to close at 863.81. NVIDIA Corporation (NASDAQ:NVDA) slipped 1.33% or 3.00 points to 222.32, and Apple Inc (NASDAQ:AAPL) was down 0.80% or 2.40 points to 297.83.
S&P 500 standouts
Within the S&P 500, Cognizant Technology Solutions Corp Class A (NASDAQ:CTSH) posted a strong advance of 9.82% to 51.40. Dominion Energy Inc (NYSE:D) rose 9.44% to settle at 67.56, and ServiceNow Inc (NYSE:NOW) gained 8.76% to close at 103.40.
Major S&P losers included Regeneron Pharmaceuticals Inc (NASDAQ:REGN), which fell 9.86% to 629.37, Corning Incorporated (NYSE:GLW), down 6.91% to 178.55, and Seagate Technology PLC (NASDAQ:STX), which declined 6.87% to 740.84.
Nasdaq extremes
On the Nasdaq Composite, a handful of small-cap and micro-cap names produced outsized percentage moves. Propanc Biopharma Inc (NASDAQ:PPCB) jumped 2,914.71% to 2.05. Freight Technologies Inc (NASDAQ:FRGT) climbed 476.47% to 2.94, and ReTo Eco-Solutions Inc (NASDAQ:RETO) gained 281.88% to 2.15.
Significant declines were seen in Bitcoin Depot Inc (NASDAQ:BTM), which fell 73.37% to 0.78, Lichen China Ltd (NASDAQ:LICN), down 46.75% to 3.77, and Gossamer Bio Inc (NASDAQ:GOSS), which dropped 43.29% to 0.19.
Breadth and market internals
On the NYSE, advancing issues outnumbered decliners by 1,565 to 1,188, with 70 stocks unchanged. On the Nasdaq, 1,808 stocks fell while 1,582 advanced and 160 finished flat.
Notable price milestones
Shares of Dominion Energy Inc rose to three-year highs, gaining 9.44% or 5.83 to reach 67.56. Several small-cap names moved to new lows in the session: Bitcoin Depot Inc fell to an all-time low of 0.78 after a 73.37% decline, ReTo Eco-Solutions Inc recorded an all-time low despite a 281.88% rise to 2.15, and Gossamer Bio Inc traded down to an all-time low of 0.19 following a 43.29% drop.
Volatility, currencies and commodities
The CBOE Volatility Index, which tracks implied volatility of S&P 500 options, declined 3.36% to 17.81.
In commodities, Gold Futures for June delivery rose 0.15% or 6.77 to $4,568.67 a troy ounce. Crude oil for July delivery gained 0.66% or 0.67 to $101.69 a barrel, while the July Brent contract decreased 0.63% or 0.69 to trade at $108.57 a barrel.
On the currency front, EUR/USD was quoted at 1.17, showing a 0.28% change, and USD/JPY rose 0.03% to 158.82. The US Dollar Index Futures declined 0.34% to 98.87.
Promotional note appearing in trading commentary
Market commentary included a note encouraging traders to examine Chevron (CVX) using an automated chart-analysis product described as scanning charts to identify setups with suggested entry and exit points in under 60 seconds. The message highlighted user reports of a high accuracy rate on a range of stocks, including penny names, and referenced a limited-time sale.
Key points
- Major indexes finished mixed: Dow +0.32%, S&P 500 -0.07%, NASDAQ -0.51%.
- Energy, Telecoms and Financials were among the stronger sectors, while Technology, Industrials and Consumer Goods lagged.
- Several small-cap stocks produced very large percentage moves on the Nasdaq, both positive and negative, contributing to uneven breadth.
Risks and uncertainties
- Elevated volatility among small-cap and micro-cap names creates outsized single-day gains and losses - this primarily affects the Nasdaq and speculative segments of the market.
- Sector divergence means strength in Energy and Financials may not offset weakness in Technology and Industrials for broad-index performance - this impacts portfolio balance across sectors.
- Movement in commodities and the US Dollar could continue to influence energy and commodity-linked equities, adding uncertainty to valuations in those sectors.