US close: Stocks mixed as chip stocks drag despite easing Treasury yields

(Sharecast News) - Major indices delivered a mixed performance on Monday as weakness across chipmakers outweighed a pullback in Treasury yields.

At the close, the Dow Jones Industrial Average was up 0.26% at 53,417.16, while the S&P 500 shed 0.28% to 7,652.86 and the Nasdaq Composite saw out the session 0.76% weaker at 25,981.19.

The Dow closed 140.15 points higher on Monday, taking a bite out of losses recored in the previous session after the 30year US Treasury yield pushed above 5.3%, hitting its highest level in nearly two decades, while longdated rates in Japan, France and Germany also climbed to multiyear highs.

Tech stocks traded lower on Monday, with chipmakers Micron, AMD and Broadcom all heading south, offsetting easing Treasury yields after the US Treasury announced that it may tap its General Account to support a buyback programme, nudging the 10year down more than three basis points to 4.704% and the 30year over four basis points to 5.234%, having topped 5.3% last week for the first time in nearly two decades. Treasury's announcement follows comments from Treasury Secretary Scott Bessent, who said planned longend buybacks could exceed the $4bn announced earlier in the week.

Also weighing on sentiment was announcement from Donald Trump announced that the US would be hiking tariffs on imports of "all Cars, Trucks, both large and small, Automotive Parts, and Steel: from Canada to 50%, with effect from 1 January, 2027.

On the macro front, the Chicago Federal Reserve's national activity index pointed to a further cooling in US economic growth in July, with the headline index slipping to -0.08 from +0.06 in June as most underlying indicators weakened. Three of the four broad categories deteriorated on the month, and two posted negative contributions, while the threemonth moving average eased to -0.04 from +0.01, signalling activity running modestly below trend.

The diffusion index also softened, dropping to +0.05 from +0.09, with 40 of 85 indicators making positive contributions and 45 negative. Production added +0.01, down from +0.04, and sales, orders and inventories contributed +0.02, also easing from +0.04, while employment was a mild offset, improving to -0.01 from -0.05, and personal consumption and housing weakened sharply, swinging to -0.09 from +0.04.

No major earnings were released on Monday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Visa Inc. (V) $382.41 3.06%

Walt Disney Co. (DIS) $110.61 2.63%

Unitedhealth Group Inc. (UNH) $398.76 2.22%

Amgen Inc. (AMGN) $443.84 2.08%

Travelers Company Inc. (TRV) $370.55 1.92%

Verizon Communications Inc. (VZ) $50.15 1.42%

JP Morgan Chase & Co. (JPM) $356.39 1.37%

Procter & Gamble Co. (PG) $146.60 1.33%

Johnson & Johnson (JNJ) $273.04 1.04%

Coca-Cola Co. (KO) $91.99 0.98%

Dow Jones - Fallers

Intel Corp. (INTC) $87.26 -4.19%

Dow Chemical Co. (DOW) $31.44 -2.81%

Caterpillar Inc. (CAT) $811.02 -2.04%

International Business Machines Corporation (CDI) (IBM) $231.04 -1.97%

Boeing Co. (BA) $210.46 -1.75%

Merck & Co. Inc. (MRK) $150.66 -1.24%

Chevron Corp. (CVX) $203.09 -1.05%

Cisco Systems Inc. (CSCO) $110.23 -0.72%

Goldman Sachs Group Inc. (GS) $1,036.28 -0.29%

Salesforce.Com Inc. (CRM) $209.06 -0.05%

S&P 500 - Risers

Illumina Inc. (ILMN) $223.22 6.70%

Dollar Tree Inc (DLTR) $136.75 5.57%

VeriSign Inc. (VRSN) $290.79 5.24%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $538.76 4.44%

Expedia Group Inc. (EXPE) $339.13 4.01%

Kohls Corp. (KSS) $18.30 3.98%

Church Dwight Co Inc. (CHD) $102.53 3.78%

Altria Group Inc. (MO) $68.47 3.60%

Jack Henry & Associates Inc. (JKHY) $170.51 3.60%

Gartner Inc. (IT) $202.78 3.51%

S&P 500 - Fallers

Coterra Energy Inc. (CTRA) $32.56 -8.62%

J.B. Hunt Transport Services Inc. (JBHT) $259.88 -6.61%

Western Digital Corp. (WDC) $435.38 -6.41%

Micron Technology Inc. (MU) $910.43 -6.36%

Seagate Technology Plc (STX) $794.65 -6.29%

Borg Warner Inc. (BWA) $64.36 -5.05%

Ipg Photonics Corp. (IPGP) $70.74 -4.88%

CenturyLink Inc. (LUMN) $5.67 -4.55%

Intel Corp. (INTC) $87.26 -4.19%

Take-Two Interactive Software Inc. (TTWO) $233.50 -4.09%

Nasdaq 100 - Risers

Illumina Inc. (ILMN) $223.22 6.70%

Dollar Tree Inc (DLTR) $136.75 5.57%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $538.76 4.44%

Expedia Group Inc. (EXPE) $339.13 4.01%

Gen Digital Inc. (GEN) $29.11 3.43%

Costco Wholesale Corp. (COST) $971.40 3.34%

Starbucks Corp. (SBUX) $107.49 3.13%

Monster Beverage Corp (MNST) $48.92 3.03%

Paychex Inc. (PAYX) $126.01 2.75%

Booking Holdings Inc. (BKNG) $213.36 2.33%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

J.B. Hunt Transport Services Inc. (JBHT) $259.88 -6.61%

Western Digital Corp. (WDC) $435.38 -6.41%

Micron Technology Inc. (MU) $910.43 -6.36%

Seagate Technology Plc (STX) $794.65 -6.29%

NetEase Inc. Ads (NTES) $122.96 -4.70%

Biomarin Pharmaceutical Inc. (BMRN) $65.07 -4.41%

Intel Corp. (INTC) $87.26 -4.19%

Take-Two Interactive Software Inc. (TTWO) $233.50 -4.09%

Nvidia Corp. (NVDA) $208.48 -4.09%