Wall Street posted a mixed ending on Monday, with the Dow Jones Industrial Average pushing to another record high while the Nasdaq Composite fell and the S&P 500 fluctuated between gains and losses as last week's rally that came after the surprise election win by Donald Trump began to peter out.
The Dow's move was modest as just 12 of the 30 components rose, but that was enough to bring the gauge higher for a sixth straight day. UnitedHealth Group ( UNH ) led the gainers, adding 4% to defy a broader 0.4% slip in health care stocks on the S&P 500.
The blue-chip index's biggest decliner was Visa ( V ), retreating 4.3% even as financials jumped 2.1% to post the biggest advance among the S&P's 11 sectors. Information technology had the steepest loss, retreating 1.7% and weighing on the Nasdaq.
The mixed performance among the benchmarks comes as investors sold bonds, pushing yields higher as expectations for a rate hike next month intensified. There's an almost 86% probability of an increase by the Federal Open Market Committee, according to the CME Group's FedWatch tool.
Oil also switched sides during the session, with US futures trading about 0.6% higher at $43.67 a barrel late in the day after spending much of Monday in the red.
With no economic data on the calendar, investors looked to Tuesday's agenda, with October retail sales as well as import and export prices due at 8:30 a.m. ET. The November New York Empire State Manufacturing Index is also due at 8:30 a.m. while September business inventories are released at 10 a.m.
Here's where the markets stood by the close:
Dow Jones Industrial Average was up 21.03 points (+0.11%)
S&P 500 was down 0.25 points (-0.01%)
Nasdaq Composite Index was down 18.82 points (-0.36%)
FTSE 100 was up 0.34%
Nikkei 225 was up 1.71%
Hang Seng Index was down 1.37%
Shanghai China Composite Index was up 0.45%
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