Wall Street’s major stock indexes ended Monday with mixed results as rising oil prices and tech sector losses weighed on the markets. The S&P 500 dipped 0.1% to 7,807.24, and the Nasdaq Composite fell 0.4% to 27,245.90, while the Dow Jones Industrial Average managed to gain 0.4% to finish at 51,850.55, keeping the market near its recent record highs.
Investors are particularly concerned about the impact of rising energy prices, with Brent crude climbing 1.8% to settle at $106.65 per barrel amid ongoing uncertainty related to the conflict involving the United States and Iran. The increase in energy costs has sparked worries over inflation, household spending, and transportation expenses.
The technology sector faced significant losses, hindering broader market gains. Notable declines included Micron Technology, which fell 3.9%, Advanced Micro Devices with a 2.3% drop, Broadcom decreasing by 1.9%, and Nvidia losing 1.3%. These losses come as investors scrutinize corporate earnings to assess whether the current artificial intelligence boom can lead to sustained revenue and profit growth.
As investors look ahead, key U.S. economic reports on consumer inflation, producer prices, and retail sales are expected to influence expectations for future Federal Reserve interest-rate decisions. Higher borrowing costs have already started to affect the housing market, and major banks are due to release quarterly earnings during the week.
Elsewhere, European markets advanced on Monday, contrasting with declines in most Asian markets. Investors remain focused on the interplay between corporate earnings, inflation trends, and energy prices to determine whether the stock market’s recent gains can be maintained.