Shares on Wall Street started the week on Mon with modest declines. Treasury yields and crude oil prices rose on Mon, which has generally been a bad combination for equities this year.
The Dow Jones Industrial Average lost 62.42 pts, or 0.2%, to close at 31,438.26. The broader S&P 500 index fell 0.3%. The tech-heavy Nasdaq Composite retreated 0.72%. The small cap Russell 2000 gained 0.34%.
Megacap tech stocks mostly fell on Mon, including Microsoft (MSFT US, -1.05%) Amazon (AMZN US, -2.78%), Alphabet (GOOGL US, -1.82%), Nvidia (NVDA US, -1.5%), and Meta Platforms (META US, -0.39%). Apple (AAPL US) shares were flat.
Airlines stocks retreated on Mon, amid a rise in oil prices and continued disruptions in flights due to staff shortages and weather. Shares of American Airlines (AAL US, -2.45%) and Delta Airlines (DAL US, -2.44%) fell.
The yield on the 10-year Treasury note notched up 6.96 basis points (bps) to 3.1997%, while the yield on the 2-year.
The front-month Brent and WTI futures closed up $1.97 at US$115.09/bbl and $1.95 at US$109.57/bbl respectively.
The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, fell 0.24% to 103.939.
The most actively traded US gold futures (Aug) contracts settled down $5.50, or 0.3%, at US$1,824.80/oz. July silver, which is the most actively traded silver futures, rose 4.3 cents, or 0.2%, to end at US$21.168/oz.
European equity markets finished mixed on Mon. The UK FTSE gained 0.69%, France's CAC 40 fell 0.43%, while the German DAX advanced 0.52%.