Stocks ended mixed on Monday as investors anticipated key third quarter earnings reports from major companies, including Tesla
Here's how the market settled to start the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Apple unveils new processors, MacBooks and AirPods:
Apple
The event was highlighted by the unveiling of new MacBook Pro laptops, which will use the tech giant's new M1 Pro and M1 Max chips. Apple says the new processors operate much faster than chips made by Intel
The new MacBook models have an HDMI port to connect to displays and TVs, a SD card slot for photo editing, and a MagSafe magnetic connectors. The new models come in 16-inch and 14-inch sizes with denser screens and ProMotion screen with higher refresh rates, Apple said.
Apple also unveiled new AirPods that support spatial audio. The headphones come with a new design and a case that charges magnetically using Apple's MagSafe. Apple says the third-generation AirPods have more powerful bass compared to previous models and now have six hour battery life for audio listening.
Homebuilder sentiment unexpectedly jumps in October:
U.S. homebuilders sentiment posted a surprise gain in October, with strong demand for homes partially offsetting ongoing supply chain and labor disruptions in the housing market.
The National Association of Home Builders' (NAHB) October Housing Market Index jumped to 80 in October from 76 in September. At 80, the index came in above the average of 70 throughout 2020 and 66 in 2019.
"Although demand and home sales remain strong, builders continue to grapple with ongoing supply chain disruptions and labor shortages that are delaying completion times and putting upward pressure on building material and home prices," NAHB Chairman Chuck Fowke said in a press statement.
"Building material price increases and bottlenecks persist and interest rates are expected to rise in coming months as the Fed begins to taper its purchase of U.S. Treasuries and mortgage-backed debt. Policymakers must focus on fixing the broken supply chain," Fowke added. "This will support more construction and help ease upward pressure on home prices."
Here's how market benchmarks started trading soon after opening bell:
S&P 500 Index: -0.42% or -18.85 points to 4,452.52
Dow Jones Industrial Average: -0.45% or -158.64 points to 35,136.12
Nasdaq Composite Index: -0.42% or -62.33 points to 14,836.02