Advertisment
The Dow Jones Industrial Average fell on Monday as investors awaited critical economic data and another batch of earnings reports following a volatile week that ended with the index reaching a key milestone.
The 30-stock index sagged 68.23 points, to 50,047.44
The S&P 500 index gained 12.86 points, or 2%, to 6,945.16.
The NASDAQ popped 101.76 points to 23,132.97.
Shares of Oracle were up 8% after receiving an upgrade to buy from neutral at D.A. Davidson due to optimism around OpenAI and its beneficiaries. Fellow chip stocks such as Nvidia and Broadcom also extended their gains from the previous session, Nvidia gaining 3% and Broadcom more than 1%.
Investors will be watching for the delayed January jobs report from the Bureau of Labor Statistics, which is due out Wednesday. The release was initially scheduled for last Friday but was postponed due to the partial government shutdown.
It also comes after ADP reported last week that private payrolls increased by a mere 22,000 in January, well below expectations. Economists polled by Dow Jones anticipate the closely watched jobs report will show a gain of 55,000 in January.
The January consumer price index reading — which was also delayed by the shutdown — is due out Friday, with the consensus looking for a 2.5% annual rate.
Prices for the 10-year Treasury dipped slightly, raising yields to 4.22% from Friday’s 4.21%. Treasury prices and yields move in opposite directions.
Oil prices took on 55 cents to $64.10 U.S. a barrel.
Gold prices brightened $79.10 to $5,058.90 U.S. an ounce.
