Stocks closed mixed on Monday as Dow Jones hit record high and Nasdaq 100 dropped

From Nasdaq: 2024-08-26 18:16:15

US stocks closed mixed on Monday, with the Dow Jones Industrials hitting a record high, while the Nasdaq 100 dropped to a one-week low. Israeli airstrikes in Lebanon and concerns over Fed policy adjustments influenced the markets. Energy stocks rose after a rally in WTI crude oil. Chip stocks weighed on the market. Interest rates and European bond yields moved higher. Swaps predict a -25 bp ECB rate cut. Stock movers included Intel and energy companies like Exxon Mobil. Tesla dropped with a new tariff, while PDD Holdings plummeted after disappointing Q2 revenue. Kymera Therapeutics and Xcel Energy saw gains. However, Guardant Health and Arista Networks declined. Uber was fined by the Dutch Data Protection Authority. Premier Inc was downgraded. Earnings reports are expected from companies like Ambarella Inc and Nordstrom Inc.



Read more at Nasdaq: Stocks Undercut by Chip Stock Weakness