US Stocks Pare Most Gains
US stocks pared most of their earlier gains on Monday, with the S&P 500 hovering around the flatline and the Nasdaq slipping 0.4%, while the Dow Jones rose 350 points. Losses in energy and technology shares weighed on the broader market. Investors remained cautious ahead of the upcoming midterm elections and key labour market data due later this week. Meanwhile, oil prices declined amid growing hopes that the US and Iran could resume peace talks. Apple shares fell 2.4% ahead of the company's earnings release after the closing bell. Other major technology stocks also came under pressure, with Microsoft down 1.3%, Micron Technology tumbling 5.3% and AMD sliding 6%. ExxonMobil also dropped 3.7%. Oracle plunged nearly 8% after announcing a $10 billion share offering alongside plans to raise a similar amount through a debt sale. In contrast, consumer discretionary and materials stocks outperformed. Amazon climbed 3.5%, Tesla gained 1.3%, while Walmart advanced 3.1%.
US stocks pared most of their earlier gains on Monday, with the S&P 500 hovering around the flatline and the Nasdaq slipping 0.4%, while the Dow Jones rose 350 points. Losses in energy and technology shares weighed on the broader market. Investors remained cautious ahead of the upcoming midterm elections and key labour market data due later this week. Meanwhile, oil prices declined amid growing hopes that the US and Iran could resume peace talks.
Apple shares fell 2.4% ahead of the company's earnings release after the closing bell. Other major technology stocks also came under pressure, with Microsoft down 1.3%, Micron Technology tumbling 5.3% and AMD sliding 6%. ExxonMobil also dropped 3.7%. Oracle plunged nearly 8% after announcing a $10 billion share offering alongside plans to raise a similar amount through a debt sale.
In contrast, consumer discretionary and materials stocks outperformed. Amazon climbed 3.5%, Tesla gained 1.3%, while Walmart advanced 3.1%.