Stocks dipped lower on Monday as investors pulled back from Wall Street's recent five week winning streak. The Dow Jones Industrial Average slipped more than 40 points, while the S&P 500 Index and Nasdaq Composite lost 0.5% and 0.8%, respectively.
Here's how the market settled on Monday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Monday's moves followed major market strength last Friday, with the S&P 500 posing its highest close since March 2022 to bring its year-to-date gains at the brink of the bull market at nearly 20%. The Dow is also up more than 9% for the year, while the Nasdaq has continued its bull market rally --driven by increased tech sector strength boosted by the emerging artificial intelligence market -- as its has risen 35% in 2023.
In single-stock news, Alaska Air Group
Spotify
"Over the last two years, we've put significant emphasis on building Spotify into a truly great and sustainable business - one designed to achieve our goal of being the world's leading audio company and one that will consistently drive profitability and growth into the future," Ek added in an internal memo that was shared on Spotify's website.
Twilio
Oppenheimer analysts led by Jason Helfstein believe Uber Technologies
"Following the inclusion, we expect UBER to lean into growth and share buybacks, which should increase investor sentiment for growth/return in 2024," the analysts wrote in a note.
For Tuesday, market participants will react to the S&P U.S. services PMI and ISM services readings for November, as well as October's job openings data -- all due out in the morning. On the earnings front, NIO