Live Markets: US stocks mixed; financials rally, tech retreats
SPY•Market snapshot
Here is a snapshot of where markets stood around 10:02 a.m. ET:
- Dow gains
- S&P 500 dips
- Nasdaq falls about 1%
- Euro STOXX 600 index about flat
- Dollar rises
- Gold and bitcoin both up more than 1%
- U.S. crude down more than 1%
- U.S. 10-year Treasury yield falls to about 4.70%
Financials lead gains while tech and chips lag
A majority of S&P 500 .SPX sectors are higher with financials .SPSY and staples .SPLRCS, both up more than 1%, the biggest gainers.
Tech .SPLRCT, down more than 1.5%, is the weakest group.
Under the surface, big banks .SPXBK and regional banks .KRX are outperformers.
Chips are under pressure with the PHLX Semiconductor Index .SOX sliding more than 3.5%.
US stocks mixed as investors weigh inflation, Nvidia results and Jackson Hole
Wall Street's main indexes are mixed early on Monday as investors weigh the U.S. pledge of an "economic D-Day" against Iran while awaiting a closely watched inflation report, AI giant Nvidia's NVDA.O quarterly results, and the Federal Reserve's Jackson Hole Economic Policy Symposium later this week.
Meanwhile, after trade talks with Canada collapsed, U.S. tariffs on all cars and trucks, automotive parts and steel will be increased to 50% starting on January 1, 2027, President Donald Trump said in a social post on Monday.
