(Sharecast News) - Major indices were in the red at the close on Monday as investors assessed fresh uncertainty around the artificialintelligence IPO pipeline and monitored another jump in oil prices.
At the close, the Dow Jones Industrial Average was down 0.29% at 52,421.20, while the S&P 500 shed 0.48% to 7,619.98 and the Nasdaq Composite saw out the session 0.56% weaker at 26,186.41.
The Dow closed 152.09 points lower on Monday, taking a bite out of gains recorded in the previous session, heading south after an interview with OpenAI chief executive Sam Altman published over the weekend said the company would not pursue a stockmarket listing this year, calling an IPO "illadvised" just a month after CFO Sarah Friar suggested the group would go public by 2027 at the latest. The comments add to growing questions over how quickly major AI firms will reach public markets.
Separately, Anthropic CEO Dario Amodei used an essay released on Saturday to urge the industry to slow the pace of frontiermodel development due to safety risks. He told CBS News that the biggest challenge for any slowdown would be how to respond if China continued to accelerate its own AI efforts. The weekend's remarks come amid heightened scrutiny of the sector following warnings from a former Anthropic researcher about existential risks.
The AI boom has been a major driver of equitymarket gains and corporate investment in recent years, but the latest developments suggest the scale and timing of publicmarket benefits may be less certain than previously assumed.
Energy prices also drew an amount of investor attention on Monday as oil prices crossed $100 a barrel for the first time since May after Saudi Arabia shut a key pipeline that bypasses the Strait of Hormuz. At the close, Brent crude futures were up 1.52% at $106.20 a barrel, while West Texas Intermediate crude was up 106.20% at $101.39 a barrel.
As well as oil's continued climb, Treasury yields jumped on Monday ahead of the Federal Reserve's policy meeting later this week, with the 10year note briefly crossing 5% to touch its highest level since October 2023. By the close of trading, the benchmark yield up was up around one and a half basis points at 4.988%.
In the corporate space, Dave & Buster's posted softer secondquarter numbers as weaker walkin traffic and a shift toward highercost food and beverage weighed on revenue and margins. Sales fell 2.4% yearonyear to $544.1m, with comparable store sales down 2.9%. Higher labour and operating costs squeezed profitability, pushing operating income down to $19.4m from $53m and swinging the group to a $12.5m net loss, compared with an $11.4m profit a year earlier. Adjusted underlying earnings also declined, dropping to $98.9m from $129.8m. For the first half, revenues slipped 1.9% to $1.10bn, with the company reporting a $6.8m net loss over the period.
No major data points were released on Monday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Salesforce.Com Inc. (CRM) $259.43 4.73%
International Business Machines Corporation (CDI) (IBM) $249.09 2.38%
McDonald's Corp. (MCD) $257.49 1.96%
Walt Disney Co. (DIS) $108.59 1.91%
Microsoft Corp. (MSFT) $505.41 1.73%
Verizon Communications Inc. (VZ) $51.29 1.34%
Visa Inc. (V) $375.28 1.30%
Coca-Cola Co. (KO) $89.35 1.20%
Unitedhealth Group Inc. (UNH) $383.55 1.18%
American Express Co. (AXP) $327.78 0.95%
Dow Jones - Fallers
Intel Corp. (INTC) $97.19 -4.31%
Caterpillar Inc. (CAT) $784.00 -4.22%
Goldman Sachs Group Inc. (GS) $988.45 -3.96%
3M Co. (MMM) $162.02 -1.79%
JP Morgan Chase & Co. (JPM) $350.13 -1.71%
Chevron Corp. (CVX) $212.17 -0.88%
Amgen Inc. (AMGN) $381.50 -0.61%
Dow Chemical Co. (DOW) $28.90 -0.45%
Apple Inc. (AAPL) $333.08 -0.11%
Boeing Co. (BA) $210.27 -0.09%
S&P 500 - Risers
Gartner Inc. (IT) $197.07 9.73%
Cognizant Technology Solutions Corp. (CTSH) $64.10 9.03%
Adobe Systems Inc. (ADBE) $265.60 7.56%
Fortinet Inc. (FTNT) $170.18 7.52%
Autodesk Inc. (ADSK) $228.93 7.51%
Intuit Inc. (INTU) $339.15 6.66%
Verisk Analytics Inc. (VRSK) $187.03 6.42%
Dxc Technology Company (DXC) $12.12 6.41%
Accenture Plc (ACN) $195.00 6.04%
Gallagher Arthur J (AJG) $253.30 5.40%
S&P 500 - Fallers
Corning Inc. (GLW) $143.60 -13.70%
Hewlett Packard Enterprise (HPE) $55.41 -10.76%
Skyworks Solutions Inc. (SWKS) $79.26 -9.67%
Lam Research Corp. (LRCX) $273.49 -8.98%
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Ipg Photonics Corp. (IPGP) $74.90 -7.68%
Eaton Corporation plc (ETN) $393.16 -7.57%
Qorvo, Inc. (QRVO) $107.98 -7.23%
Applied Materials Inc. (AMAT) $424.21 -7.04%
Keysight Technologies Inc. (KEYS) $314.96 -6.99%
Nasdaq 100 - Risers
Cognizant Technology Solutions Corp. (CTSH) $64.10 9.03%
Adobe Systems Inc. (ADBE) $265.60 7.56%
Autodesk Inc. (ADSK) $228.93 7.51%
Intuit Inc. (INTU) $339.15 6.66%
Check Point Software Technologies Ltd. (CHKP) $138.49 6.66%
Verisk Analytics Inc. (VRSK) $187.03 6.42%
Netflix Inc. (NFLX) $80.32 4.42%
Gen Digital Inc. (GEN) $31.41 3.76%
Workday, Inc. (WDAY) $194.21 3.57%
Automatic Data Processing Inc. (ADP) $276.63 3.32%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Skyworks Solutions Inc. (SWKS) $79.26 -9.67%
Lam Research Corp. (LRCX) $273.49 -8.98%
Asml Holdings N.V. (ASML) $1,575.15 -7.73%
Applied Materials Inc. (AMAT) $424.21 -7.04%
Western Digital Corp. (WDC) $426.94 -6.66%
KLA-Tencor Corp. (KLAC) $169.09 -5.62%
Micron Technology Inc. (MU) $924.03 -5.54%
Broadcom Inc. (AVGO) $344.72 -5.17%
Seagate Technology Plc (STX) $805.55 -4.80%
47.13 (0.44%)
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