landsberg bennettStocks finished mixed Monday. The Dow dropped 126 points to 25317, while the S&P 500 slipped 11 points to 2755. The Nasdaq Composite gained 19 points to 7468.

The Dow and S&P 500 erased early session gains as disappointing quarterly earnings releases overshadowed strength in Asia overnight. China’s Shanghai Composite surged more than 4% to post its best session since March 2016 amid proposed Chinese tax cuts. On the data front, the sole update from the Chicago Fed showed national activity expanded at a slower-than-anticipated pace last month.

Nine of 11 S&P 500 sectors closed in negative territory with Financials sliding more than 2.0%. Energy shares also lagged as Halliburton’s earnings weighed on the sector. The oilfield services company fell 3.0% to $36.40 after offering a weak year-end forecast amid a projected slowdown in activity. Strength in Technology shares buoyed the major averages as Microsoft advanced 0.9% to $109.63, and Intel jumped 2.3% to $45.01 following an analyst upgrade. In other earnings, Hasbro slid 3.1% to $95.01 after missing consensus earnings and revenue estimates.

Breadth was negative on issues by 8:5 on the NYSE and 7:5 on the Nasdaq. Composite NYSE volume was more than 3.2 billion shares.

Treasuries were essentially unchanged with the yield on the 10-year note flat at 3.19%. In commodities, WTI crude added 0.1% to $69.17/barrel after touching its lowest point in five weeks. COMEX gold lost 0.3% to $1,221.20/ounce as the U.S. dollar climbed to its best level in two months.