As of 11:31 a.m. ET, the Dow Jones Industrial Average (^DJI +0.48%) was up 0.49% to 51,909, outperforming as investors rotate into value stocks. The S&P 500 (^GSPC +0.07%) dipped 0.06% to 7,807 and the Nasdaq Composite (^IXIC -0.19%) was down 0.37% to 27,265 on technology weakness.
Gold was trading at $4,192.70, down 0.56% as of 11:31 a.m. ET, while the 10-Year Treasury yield edged up to 5.24% as names in communication services lead sector gainers and technology and utilities trade lower.
Today’s biggest moves
eBay (EBAY +5.43%) shares are surging today after being named a top analyst pick, while Figs (FIGS +10.58%) has jumped 8.5% following a positive industry review. Conversely, Bloom Energy (BE -5.97%) is down 6.7% after announcing its earnings release date, and Nvidia (NVDA -1.05%) is teetering near support levels as semiconductor momentum slows.
What this means for investors
Mixed news over the weekend has traders shunning riskier tech stocks in early trading Monday, while the S&P 500 index is little changed. President Trump announced actions in recent days aimed at driving down oil and diesel prices, but oil prices were still moving higher.
After a premarket drop in oil, investors became skeptical that attempts for an “energy ceasefire” between Ukraine and Russia will have much effect as the conflict in the Middle East continues to escalate.
Crude oil rose to $106 per barrel, with important inflation data scheduled for release this week. The Consumer Price Index (CPI) for September will be announced on Wednesday, followed by the Producer Price Index on Thursday.
Howard Smith has positions in Nvidia. The Motley Fool has positions in and recommends Bloom Energy, Figs, Nvidia, and eBay. The Motley Fool has a disclosure policy.
