Monday Stock Market Update
The Dow Jones Industrial Average gained, while the S&P 500 and Nasdaq Composite fell on Monday.
- The Dow Jones Industrial Average gained 27.70 points or 0.09 percent, to close at 31,522.02.
- The S&P 500 fell 0.77 percent to close at 3,876.42.
- The Nasdaq Composite fell 2.46 percent to close at 13,533.05.
Massive losses in technology companies dragged down the overall market on Monday. Furthermore, bond yields continued to rise which pushed some investors to seek out cyclical stocks that would be less affected from higher borrowing costs and benefit more from economic reopenings.
Next week keep an eye out for:
- Housing Price Index (MoM)
- S&P/Case-Shiller Home Price Indices (YoY)
- Apple, Home Depot, Medtronic PLC, and Square are reporting earnings.