Stocks mixed
The Dow Jones Industrial Average rose 195.60 points, or 0.38%, to 51,850.55. The S&P 500 slipped 4.30 points, or 0.06%, to 7,807.24, and the Nasdaq Composite lost 120.27 points, or 0.44%, to 27,245.90. [1][2]
Trading was light. About 12.67 billion shares changed hands on U.S. exchanges, compared with a 20-day average of 17.62 billion, according to Reuters. [1]
Oil, chips and big movers
Oil futures rose nearly $2 a barrel after deadly weekend strikes on Riyadh's international airport, Reuters reported. Energy was the best performer among the S&P 500's 11 sectors, up 1.5%, while technology fell 0.9% and consumer discretionary 0.7%. Chip stocks led the decline: the Philadelphia semiconductor index fell 2.7% to a three-week low. [1]
Microsoft rose 1.1%, taking its market value above $4 trillion for the first time in a year, after it announced plans for a major deployment of its own AI chips. Salesforce gained 2% after BofA Global Research upgraded the stock to buy, and eBay rose 2% after Morgan Stanley added it to its top-pick list. [1]
Bonds, the Fed and the week ahead
The U.S. Treasury market was closed for Columbus Day, so there are no new Treasury yields for Monday. Stock exchanges kept their regular hours. [1][3]
Cleveland Fed President Beth Hammack said the Fed should move "relatively quickly" to a more restrictive policy stance. Traders priced in an almost 22% chance of a rate increase this month on CME's FedWatch tool, up from 17.7% on Friday, according to Reuters. [1]
JPMorgan Chase, Goldman Sachs and Citigroup report third-quarter results early Tuesday. September consumer and producer price data and retail sales are due later in the week. [1]
What remains uncertain
Closing levels come from Reuters' final report and match Motley Fool's index quotes; index providers' end-of-day files can be revised. Oil, sector and FedWatch figures are as Reuters reported them.