US stocks muted on Columbus Day
SPY•US stocks were mixed early Monday, with the S&P 500 nearly flat, the Dow higher and the Nasdaq lower. US crude rose more than 2%, while the bond market was closed for the Columbus Day holiday.
1. Stocks mixed
The S&P 500 was essentially flat, the Dow edged higher and the Nasdaq dipped. Energy led sector gainers as oil prices rose, while technology lagged, with chip stocks weighing on the sector.
2. Oil and the week ahead
WTI and Brent crude were both up more than 2%, as attacks on Saudi Arabia by Iran-backed Houthis overshadowed announcements of a US-Russia diesel deal and a purported Russia-Ukraine energy ceasefire. Third-quarter earnings reports from major banks and US inflation data are among the events scheduled for the week.
