Wall Street Closes Mixed; Nasdaq Advances

U.S. markets closed mixed on Monday as investors awaited third-quarter earnings reports and key economic data that could impact monetary policy.

The Dow Jones Industrial Average fell by 0.80% to 42,931.60 points, while the S&P 500 decreased by 0.18% to 5,853.98. The Nasdaq Composite, however, rose by 0.27% to 18,540.01, bolstered by gains in the technology sector, particularly from Nvidia, which surged 4% and approached a market capitalization of $3.5 trillion.

The day’s trading reflected caution following last week’s record highs for both the Dow Jones and S&P 500, which marked their best performance streak of the year. Key earnings from companies like Tesla and Coca-Cola are expected this week, potentially influencing market trends. Investors are also focused on economic data and Federal Reserve communications, which could provide insights into future interest rate decisions.

In sector performance, only technology saw gains, while real estate and healthcare sectors declined significantly. Within the Dow Jones, American Express and Merck faced notable losses. Boeing shares increased by 3.11% after announcing a tentative agreement with its largest union, which includes a significant pay raise, allowing the company to resume production of its 737 MAX aircraft.

Overall, the market’s mixed results reflect a balancing act between recent bullish momentum and upcoming earnings that could sway investor sentiment.