The Dow Jones Industrial Average retreated Monday after notching a record close Friday.
 | MON, AUG 09, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 146.09 | -0.05 | -0.03% | | MSFT | 288.33 | -1.13 | -0.39% | | INTC | 54.05 | +0.13 | +0.24% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AMD | 107.58 | -2.53 | -2.30% | | BAC | 40.67 | +0.52 | +1.30% | | AAPL | 146.09 | -0.05 | -0.03% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 107.58 | -2.53 | -2.30% | | AAPL | 146.09 | -0.05 | -0.03% | | MRNA | 484.47 | +70.75 | +17.10% | |
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The Dow Jones Industrial Average retreated Monday after notching a record close Friday. The 30-stock average fell 106.66 points, or 0.3%. The S&P 500 slid by less than 0.1%, while the Nasdaq Composite bucked the trend and inched over 0.1% higher. Oil prices dropped Monday, continuing their slide from last week, as rising Covid cases and the highly transmissible delta variant raised concerns about a slowdown in demand. The falling oil prices put downward pressure on energy stocks. The Energy Select Sector SPDR ETF fell more than 1%, while Diamondback Energy shares slipped 3.5%. Exxon Mobil and Chevron each declined over 1%.  Meanwhile, financial names moved higher as the benchmark 10-year Treasury yield rose. Higher rates increase banks' profitability prospects. The financial sector was the best performing in the S&P 500. Shares of Morgan Stanley and Bank of America each gained more than 1%. "U.S. stocks are trading sideways Monday as investors weigh peak growth concerns and a rise in delta cases against easy financial conditions and strong near-term growth levels," Goldman Sachs' Chris Hussey said in a note. Shares of Tesla lifted the Nasdaq Composite higher. The electric vehicle stock closed 2.1% higher after Jefferies upgraded the company to buy from hold. The Wall Street firm said that Tesla was "leading the way on earnings momentum and capital allocation." |
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