(Sharecast News) - Major indices closed lower on Monday as oil prices and Treasury yields moved higher amid continued tensions in the Middle East.
At the close, the Dow Jones Industrial Average was down 0.67% at 51,481.51, while the S&P 500 shed 0.77% to 7,7683.69 and the Nasdaq Composite saw out the session 0.92% weaker at 26,820.38.
The Dow closed 347.11 points lower on Monday, taking a bite out of gains recorded in the previous session.
Wall Street stocks pared losses around midday on Monday after CNN and Axios reported, citing White House officials, that Donald Trump was open to offering sanctions relief to Iran on nuclear issues - a development that pulled crude prices sharply off their session highs. Earlier, Trump had rejected conditions for a ceasefire from Iran aimed at ending their conflict.
International benchmark Brent crude ended the session up 1.71% at $106.10 a barrel, while West Texas Intermediate was just 0.21% higher at $92.60 a barrel. Treasury yields also extended last week's sharp gains, with the benchmark 10‑year note up almost eight basis points at 5.244% and the 30‑year climbing more than five basis points to 5.552%, leaving both trading around multi‑year highs.
On the macro front, the Dallas Federal Reserve said Texas manufacturing activity softened in September, with the general business activity index easing to 9.8 from 11.6 as company outlook measures weakened and uncertainty rose, even as employment strengthened and price and wage pressures intensified. Forward‑looking indicators remained positive but moderated, with future production little changed at 40.3 and the future general business activity index dropping to 20.8.
In the corporate space, tech stocks were mostly weaker on Monday, although Nvidia bucked the trend, with the chipmaker rising 1.7% after announcing plans to expand its share buyback programme by $150bn, taking the total authorised repurchase capacity to $235bn.
No major corporate earnings were slated for release on Monday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Amgen Inc. (AMGN) $418.13 2.85%
Microsoft Corp. (MSFT) $509.22 2.08%
Procter & Gamble Co. (PG) $149.03 1.91%
Nike Inc. (NKE) $36.39 1.79%
Chevron Corp. (CVX) $206.37 0.94%
Apple Inc. (AAPL) $338.40 0.81%
Unitedhealth Group Inc. (UNH) $377.83 0.33%
Johnson & Johnson (JNJ) $271.95 0.27%
Visa Inc. (V) $367.74 0.10%
Travelers Company Inc. (TRV) $363.16 0.03%
Dow Jones - Fallers
Intel Corp. (INTC) $116.03 -7.87%
Boeing Co. (BA) $184.39 -6.91%
Salesforce.Com Inc. (CRM) $227.27 -2.88%
International Business Machines Corporation (CDI) (IBM) $220.67 -2.15%
Goldman Sachs Group Inc. (GS) $916.28 -2.05%
JP Morgan Chase & Co. (JPM) $336.59 -1.89%
Cisco Systems Inc. (CSCO) $106.74 -1.23%
McDonald's Corp. (MCD) $233.60 -1.23%
Home Depot Inc. (HD) $289.89 -1.13%
Verizon Communications Inc. (VZ) $46.68 -0.85%
S&P 500 - Risers
Gap Inc. (GAP) $22.95 5.18%
Intuitive Surgical Inc. (ISRG) $414.79 4.50%
Teleflex Inc. (TFX) $127.38 4.35%
Idexx Laboratories Inc. (IDXX) $529.06 4.35%
Nektar Therapeutics (NKTR) $60.40 4.25%
NetApp Inc. (NTAP) $204.41 3.67%
Paypal Holdings Inc (PYPL) $54.28 3.15%
Hasbro Inc (HAS) $89.45 3.12%
News Corp Class B (NWS) $32.24 3.00%
News Corp Class A (NWSA) $29.10 2.86%
S&P 500 - Fallers
Akamai Technologies Inc. (AKAM) $108.99 -9.93%
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Intel Corp. (INTC) $116.03 -7.87%
Gen Digital Inc. (GEN) $20.85 -7.29%
Boeing Co. (BA) $184.39 -6.91%
Synopsys Inc. (SNPS) $417.61 -5.61%
Regeneron Pharmaceuticals Inc. (REGN) $752.25 -5.50%
Meta Platforms Inc. (META) $715.62 -5.28%
Advance Auto Parts (AAP) $39.77 -4.70%
Newmont Corporation (NEM) $116.05 -4.43%
Nasdaq 100 - Risers
NetEase Inc. Ads (NTES) $121.04 5.24%
Intuitive Surgical Inc. (ISRG) $414.79 4.50%
Idexx Laboratories Inc. (IDXX) $529.06 4.35%
Paypal Holdings Inc (PYPL) $54.28 3.15%
Hasbro Inc (HAS) $89.45 3.12%
Amgen Inc. (AMGN) $418.13 2.85%
Booking Holdings Inc. (BKNG) $163.87 2.73%
Gilead Sciences Inc. (GILD) $152.21 2.64%
Dollar Tree Inc (DLTR) $116.02 2.39%
Microchip Technology Inc. (MCHP) $77.97 2.27%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Intel Corp. (INTC) $116.03 -7.87%
Gen Digital Inc. (GEN) $20.85 -7.29%
Tesla Inc (TSLA) $357.45 -7.13%
Synopsys Inc. (SNPS) $417.61 -5.61%
Regeneron Pharmaceuticals Inc. (REGN) $752.25 -5.50%
Meta Platforms Inc. (META) $715.62 -5.28%
Check Point Software Technologies Ltd. (CHKP) $129.27 -4.75%
QUALCOMM Inc. (QCOM) $187.48 -4.12%
Micron Technology Inc. (MU) $1,053.98 -3.84%