In brief
U.S. stocks finished mixed on Monday, with the Dow edging up 0.41%, the S&P 500 falling 0.51%, and the Nasdaq slipping 1.07%. A steep 7% plunge in oil prices helped buoy industrial and non‑energy stocks, while technology shares retreated. The market ended in a narrow mix amid strong manufacturing data and rising AI‑related volatility.
U.S. stocks finished mixed on Monday as technology shares retraced early‑session gains while a sharp decline in oil prices buoyed industrial and other non‑energy stocks, Xinhua reported. The Dow Jones Industrial Average climbed 213.67 points, or 0.41 percent, to 51,983.98. The benchmark S&P 500 fell 38.67 points, or 0.51 percent, to 7,541.40. The Nasdaq Composite, weighed heavily by tech companies, shed 272.68 points, or 1.07 percent, to 25,164.32.
Seven of the eleven S&P 500 sectors ended in positive territory. Consumer discretionary led gains with a 2.25 percent rise, followed by materials at 1.83 percent. Energy and technology lagged, tumbling 3.97 percent and 2.66 percent respectively, the report noted.
Oil Prices Plunge Over 7%
Saudi Press Agency said crude oil futures fell more than 7 percent at settlement on Monday. Brent futures dropped $8.66, or 7.63 percent, to $104.77 a barrel, while U.S. West Texas Intermediate fell $7.66, or 7.36 percent, to $96.46 a barrel. The drop follows reports that the United States and Iran are exploring diplomatic channels to de‑escalate hostilities.
Strong performance among industrials helped lift the Dow. Sherwin‑Williams surged nearly 6 percent, home‑improvement retailer Home Depot rose 3.6 percent, and conglomerates Honeywell, 3M, and Boeing each climbed more than 2 percent, Xinhua reported.
Investor attention remained focused on the artificial‑intelligence landscape after AI startup Anthropic released an amended S‑1 registration statement disclosing third‑quarter results. The company’s filing added to the narrative that AI‑related stocks are volatile, with the Nasdaq having fallen 5.2 percent in October.
Manufacturing activity continued to expand in October, though at a slightly moderated pace. The S&P Global U.S. Manufacturing Purchasing Managers' Index was revised down to 54.9 from 56, but still above the 50 expansion threshold for the 15th month in a row, indicating underlying factory resilience.
With oil prices aiding industrials and tech shares sliding, U.S. markets closed the day in a narrow mix that reflects resilient factory activity amid a backdrop of AI volatility.
