Stocks finished mixed Monday. The Dow added 14 points to 25,516 while the S&P 500 fell 2 points to 2,798. The Nasdaq Composite slipped 5 points to 7,637.
U.S. equities finished little changed as concerns of a potential global economic slowdown weighed on investor sentiment. The yield curve inversion continued to garner an outsized focus as the yield on the benchmark 10-year note slipped three basis points to 2.41% while the 3-month note’s yield was essentially unchanged at 2.45%. On the data front, an update from the Chicago Fed showed national economic activity experienced below average growth for the second consecutive month in February. A separate reading showed manufacturing activity in the Dallas Fed region expanded at a slower-than-anticipated pace in the month of March.
Seven of 11 S&P 500 sectors finished in negative territory. Bank stocks extended losses from Friday as the inverted yield curve continued to weigh on the group. Technology shares also underperformed as NVIDIA fell 2.1% to $173.78 while Apple declined 1.2% to $188.69. Industrials outperformed as Boeing climbed 2.3% to $ 370.46 and Caterpillar added 1.2% to $131.38. In corporate news, Viacom class A jumped 6.0% to $32.70 following news the media giant reached a new content distribution deal with AT&T.
Breadth was positive on issues by 10:9 on the NYSE and by 8:7 on the Nasdaq. Composite NYSE Volume totaled more than 3.3 billion shares.
In commodities, NYMEX WTI crude slipped 0.2% to $58.95/barrel. COMEX gold added 0.8% to $1,322.20/ounce amid a weaker dollar.