(Sharecast News) - Major indices were at the close on Monday, snapping a five-day winning streak, as tech stocks and crypto weakness weighed on sentiment.
At the close, the Dow Jones Industrial Average was 0.90% lower at 47,289.33, while the S&P 500 shed 0.53% to 6,812.63, and the Nasdaq Composite saw out the session 0.38% weaker at 23,275.92.
The Dow closed 427.09 points lower on Monday, more than reversing gains recoreded in the previous session as markets wrapped up an otherwise disappointing month on a high.
Despite Monday's losses, market participants remained hopeful of the prospect of a yearend rally, with December historically being one of the strongest months for equities.
Recent market weakness has centred on technology stocks, particularly AIlinked names, which dragged the Nasdaq into its first monthly decline in seven months. November's pullback broke a sixmonth winning streak for the Dow and S&P 500, leaving investors cautious about valuations and sector profitability. Broadcom and Super Micro Computer both ended the session lower, while Nvidia closed higher after reversing earlier losses.
Cryptocurrencies were also in focus at the open as they continued to slide lower and add to financial stress for investors holding positions across a range of traditional asset classes. Crypto volatility only served to amplify concerns, with Bitcoin falling more than 6% on Monday to trade under $86,000, extending recent weakness in the flagship cryptocurrency.
On the macro front, US manufacturing conditions improved for a fourth straight month in November, with stronger output and rising employment supporting optimism, though demand growth slowed sharply and export orders fell at the steepest pace since July amid tariff pressures. The S&P Global purchasing managers index slipped to 52.2 from 52.5, better than a flash estimate of 51.9, as firms reported weaker sales and an unprecedented buildup of finished goods inventories for the second month running. Inflationary pressures remained historically high, but selling price inflation eased to one of the lowest levels this year as competition and weak demand limited passthrough of higher input costs.
Elsewhere, the Institute for Supply Management's manufacturing PMI contracted for the ninth consecutive month in November, dropping from 48.7 in October to 48.2 last month. The new orders index contracted to 47.4 for a third straight month in November, while the production Index rose 3.2 percentage points to 51.4 and the prices index remained in expansion, registering a 58.5 reading, up 0.5 percentage point month-on-month.
No major corporate earnings were released on Monday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Walt Disney Co. (DIS) $106.65 2.20%
Apple Inc. (AAPL) $283.10 1.52%
Nike Inc. (NKE) $65.45 1.18%
Salesforce.Com Inc. (CRM) $232.70 0.99%
Chevron Corp. (CVX) $152.57 0.93%
Walmart Inc. (WMT) $111.51 0.92%
Home Depot Inc. (HD) $357.20 0.11%
Walgreens Boots Alliance, Inc. (WBA) $0.00 0.00%
Dowdupont Inc. (DWDP) $0.00 0.00%
Dow Chemical Co. (DOW) $23.85 -0.04%
Dow Jones - Fallers
Merck & Co. Inc. (MRK) $101.86 -2.86%
McDonald's Corp. (MCD) $303.54 -2.65%
Amgen Inc. (AMGN) $337.49 -2.31%
Unitedhealth Group Inc. (UNH) $323.63 -1.99%
Goldman Sachs Group Inc. (GS) $811.22 -1.84%
Coca-Cola Co. (KO) $71.99 -1.60%
American Express Co. (AXP) $360.42 -1.36%
Intel Corp. (INTC) $40.01 -1.36%
Boeing Co. (BA) $186.60 -1.34%
Caterpillar Inc. (CAT) $567.27 -1.34%
S&P 500 - Risers
Leggett & Platt Inc. (LEG) $11.90 16.37%
Bath & Body Works, Inc. (BBWI) $19.00 9.02%
Synopsys Inc. (SNPS) $438.29 4.85%
Perrigo Company plc (PRGO) $13.89 3.75%
VF Corp. (VFC) $18.08 3.66%
J.B. Hunt Transport Services Inc. (JBHT) $179.73 3.32%
Wynn Resorts Ltd. (WYNN) $132.77 3.18%
Accenture Plc (ACN) $257.78 2.97%
TripAdvisor Inc. (TRIP) $15.29 2.82%
Whirlpool Corp. (WHR) $79.34 2.75%
S&P 500 - Fallers
Nektar Therapeutics (NKTR) $61.06 -6.36%
Northrop Grumman Corp. (NOC) $544.20 -4.67%
Broadcom Inc. (AVGO) $386.08 -4.19%
Lockheed Martin Corp. (LMT) $438.59 -4.08%
Iron Mountain Inc (New) (IRM) $82.82 -4.08%
RTX Corporation (RTX) $168.16 -3.94%
Regeneron Pharmaceuticals Inc. (REGN) $750.11 -3.86%
Centene Corp. (CNC) $37.94 -3.69%
Sempra Energy (SRE) $91.50 -3.40%
General Electric Co. (GE) $288.14 -3.35%
Nasdaq 100 - Risers
NetEase Inc. Ads (NTES) $145.00 5.03%
Synopsys Inc. (SNPS) $438.29 4.85%
J.B. Hunt Transport Services Inc. (JBHT) $179.73 3.32%
Wynn Resorts Ltd. (WYNN) $132.77 3.18%
Asml Holdings N.V. (ASML) $1,087.99 2.64%
Baidu Inc. (BIDU) $119.71 2.41%
Micron Technology Inc. (MU) $240.46 1.68%
Nvidia Corp. (NVDA) $179.92 1.65%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $547.64 1.64%
Apple Inc. (AAPL) $283.10 1.52%
Nasdaq 100 - Fallers
Broadcom Inc. (AVGO) $386.08 -4.19%
Regeneron Pharmaceuticals Inc. (REGN) $750.11 -3.86%
Idexx Laboratories Inc. (IDXX) $728.97 -3.18%
Vodafone Group Plc ADS (VOD) $12.14 -2.69%
Starbucks Corp. (SBUX) $84.91 -2.53%
Biogen Inc (BIIB) $177.78 -2.37%
Seagate Technology Plc (STX) $270.20 -2.35%
Incyte Corp. (INCY) $102.04 -2.32%
Amgen Inc. (AMGN) $337.49 -2.31%
Sirius XM Holdings Inc (SIRI) $20.81 -2.12%
16.48 (0.16%)
0.00