- US stocks fell on Monday, with the major averages dragged down by a sell-off in mega-cap tech giants.
- Gold hit a new record before retreating, while bitcoin jumped to its highest level since April 2022.
- Investors are awaiting a slew of economic data this week, including the November jobs report.
US stocks edged lower on Monday, with mega-cap technology stocks dragging down the major indexes while gold surged to a new record and bitcoin hit its highest level since April 2022.
Monday's decline in the stock market comes after a five-week win streak for all three major averages. With corporate earnings in the rear-view mirror and the Federal Reserve in a quiet period this week, investors will set their attention to upcoming economic data which will reveal just how strong the jobs market is.
Job openings will be released on Tuesday, weekly jobless claims will come out on Thursday, and the November jobs report is due on Friday, informing the Fed's rate decision at the FOMC meeting next week.
The Fed is expected to keep interest rates unchanged, though $4
Geopolitical risks were back on investors' minds over the weekend after a ceasefire between Israel and Hamas ended. The fighting escalated as Israel set its focus on attacking the southern half of Gaza. Meanwhile, $4 by Houthi rebels in the Red Sea.
Here's where US indexes stood at the 4:00 p.m. closing bell on Monday:
- S&P 500>$4: 4,569.78, down 0.54%
- Dow Jones Industrial Average>$4: 36,204.44, down 0.11% (41.06 points)
- Nasdaq Composite>$4: 14,185.49, down 0.84%
Here's what else is going on today:
- $4 by their government for failing to pay their debts.
- $4 to the legendary investor who died last week.
- $4 before retreating as investors start to consider the potential for interest rate cuts in 2024.
- $4 as investors continue to anticipate the potential approval of a spot bitcoin ETF.
- T$4 amid a steady decline in oil prices over the past few months.
- $4
In commodities, bonds, and crypto: