The Dow Jones Industrial Average climbed to an all-time high, even as big tech companies weighed on the broader market, leading U.S. stock indexes to a mixed finish on Wall Street.
The S&P 500 fell 0.3% Monday, remaining within 0.9% of its record set in July. The Nasdaq composite fell 0.9%, pulled down by several technology companies that tend to tip the market because of their big values. Nvidia lost 2.2%, Microsoft fell 0.8%, Amazon dropped 0.9%, Meta Platforms slid 1.3% and Tesla lost 3.2%.
The Dow rose 0.2%, to 41,240, eclipsing its previous high set in mid-July. The average is less influenced by big tech, with only Apple and Microsoft among the most valuable ''Magnificent Seven'' stocks in the index. That helped limit the impact of the big tech decliners.
The price of U.S. crude oil jumped 3.5% after Israel and the Lebanese militant group Hezbollah traded heavy fire on Sunday, triggering potential supply worries.
Bond yields held relatively steady. The yield on the 10-year Treasury rose to 3.82% from 3.80% late Friday.
The stock market is coming off a two-week winning streak that's helped keep the S&P 500 and Dow within striking distance of notching new highs. Monday's mixed market finish came at the start of a week featuring another full slate of corporate earnings and the government's latest inflation reading.
Monday started off with a surprisingly good report showing that orders for long-lasting goods from U.S. factories, including cars, jumped 9.9% in July. An update on consumer confidence is on tap for Tuesday and the U.S. will provide a revised estimate on Thursday of economic growth during the second quarter.
Semiconductor company Nvidia reports its latest financial results on Wednesday. It has been a big beneficiary of Wall Street's mania around artificial intelligence, becoming one of the stock market's most massive companies, with a total value topping $3 trillion. The stock is up more than 155% for the year.
