US stocks end mixed as S&P 500 drops for 5th straight session while Nasdaq edges higher after last week's rout

• The S&P 500 dropped for a 5th straight session on Monday but closed well above session lows.
• The Nasdaq Composite reversed sharply to finish higher, ending a streak of four straight losses.

US stocks finished mixed Monday as the S&P 500 extended a string of losses while the Nasdaq Composite staged a sharp reversal to close with a slight gain.

Ahead of inflation data this week that could underscore concerns the Federal Reserve will move aggressively to fight hot inflation, the 10-year Treasury yield during the session surpassed 1.8% for the first time since January 2020. That sliced into highly-valued tech stocks early Monday before they recovered some ground.

"Investors are reacting to the heightened reality of a likely four-time interest rate hike this year, as the Fed has messaged its contention that a faster tapering could better address inflationary concerns," said Greg Bassuk, CEO of AXS Investments, in a note to Insider on Monday.

Here's where US indexes stood at 4:00 p.m. on Monday:

• S&P 500>$4: 4,670.29, down 0.14%
• Dow Jones Industrial Average>$4: 36,068.87, down 0.45% (162.79 points)
• Nasdaq Composite>$4: 14,942.83, up 0.05%

Goldman Sachs said Monday it expects the US central bank to raise interest rates$4

The consumer price inflation report due Wednesday could exceed 7% after the CPI reached 6.8% in November, the highest rate since 1982.

"The producer price index (PPI) data will be released on Thursday, and investors remain laser-focused on the extent to which those wholesale prices continued to rise in December," said Bassuk, noting the previous PPI report showed producer prices surged to 9.6% year-on-year.

Around the markets, JPMorgan's quant guru $4 in stocks as markets can withstand higher interest rates. Meanwhile, Morgan Stanley's equity strategists say the market is set for $4.

Oil prices slipped.$4 fell 0.6% to $78.44 per barrel.$4 the international benchmark, lost 0.8%, at $81.11.

$4 turned higher, up 0.2% to $1,800.10 per ounce. The$4 gained about 1 basis point, at 1.777%.

$4 declined 0.8% to $41,514.36.