US equity benchmarks shifted from positive to negative territory on Monday as declines in the industrial and financial sectors offset gains in telecommunications and utilities.
Some five of the Standard & Poor's 500 Index's 11 key segments were higher at the time of writing, led by telecommunications, utilities and real estate, up by 0.39%, 0.39% and 0.36%, respectively, while the industrials sector was 1.1% lower, followed by financials and energy, both 0.3% lower.
In equities, semiconductor and memory device manufacturer Micron Technology ( MU ) was leading the gainers on the Standard & Poor's 500 Index, up by 8.3% at the time of writing. Telecommunications company Charter ( CHTR ) was 3.7% higher and consumer and commercial products company Newell Brands ( NWL ) was up by 3.3%.
Broadcom ( AVGO ) was 2.7% higher after the semiconductor connectivity provider said it expects to complete its redomiciling to the US by April 3.
Decliners on the index were led by Signet Jewelers ( SIG ), a retailer of diamond jewelry, 3.9% lower, followed by medical devices major Cooper Companies (COO), down by 3.5% and aircraft manufacturer Boeing (BA), 2.9% lower. Patterson Companies (PDCO), a medical supplies conglomerate, was also 2.9% lower.
The Dow Jones Industrial Average was 0.44% lower, the Standard & Poor's 500 Index was down by 0.04% and the Nasdaq was 0.36% higher at the time of writing.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
