Major U.S. stock indices closed mixed on Monday, with the S&P 500 and Nasdaq Composite extending their declines for a second consecutive session. Investors are preparing for a busy week of earnings reports, including those from NVIDIA (NVDA) and Walmart (WMT).
At the close, the Dow Jones Industrial Average gained 159.95 points, or 0.32%, to finish at 49,686.12. The Nasdaq Composite fell 134.41 points, or 0.51%, to 26,090.73. The S&P 500 index declined by 5.45 points, or 0.07%, settling at 7,403.05. Among notable movers, NVIDIA (NVDA) fell 1%, Micron Technology (MU) dropped nearly 6%, and Tesla (TSLA) declined close to 3%. The Nasdaq Golden Dragon China Index closed down 0.7%, with Li Auto (LI) falling nearly 10%.
In European markets, the German DAX 30 index rose 366.31 points, or 1.53%, to 24,321.50. The UK's FTSE 100 gained 128.83 points, or 1.26%, to 10,324.20. The French CAC 40 increased by 34.94 points, or 0.44%, to 7,987.49. The Euro Stoxx 50 was up 30.75 points, or 0.53%, at 5,854.25. Spain's IBEX 35 advanced 167.10 points, or 0.95%, to 17,759.70, while Italy's FTSE MIB fell 475.97 points, or 0.97%, to 48,640.50.
In Asian markets, Japan's Nikkei 225 declined 0.97%. South Korea's KOSPI rose 0.31%. India's Sensex gained 0.1%, and Singapore's Straits Times Index increased 0.15%.
The U.S. Dollar Index, which measures the dollar against a basket of six major currencies, fell 0.09% to settle at 99.192. In late New York trading, one euro was worth $1.1637, up from $1.1630 the previous session. One British pound traded at $1.3411, up from $1.3332. One dollar bought 159.01 Japanese yen, up from 158.68 yen. It traded at 0.7856 Swiss francs, down from 0.7865, and at 1.3749 Canadian dollars, up from 1.3739. One dollar was worth 9.4093 Swedish kronor, down from 9.4374.
In cryptocurrencies, Bitcoin briefly fell below the $77,000 mark, hitting a low of $76,051.01. Ethereum reached a low of $2,077.8.
International oil prices rose significantly. The June contract for West Texas Intermediate crude on the New York Mercantile Exchange gained $3.24, or 3.07%, to settle at $108.66 per barrel. The July contract for Brent crude on the ICE Futures Europe exchange rose $2.84, or 2.6%, to close at $112.10 per barrel.
Spot gold initially fell below the $4,500 per ounce level but erased losses by the close to trade at $4,566.27 per ounce. Spot silver was at $77.68 per ounce.
In macro news, former U.S. President Donald Trump stated that Middle Eastern allies had requested a delay in a planned military strike against Iran to facilitate a potential agreement. He indicated that if regional allies were satisfied with the terms, the U.S. would likely also be content with a diplomatic solution, while reiterating that a complete ban on Iran possessing nuclear weapons remained his primary condition.
A senior Japanese finance ministry official expressed skepticism about the idea of Japan selling U.S. Treasuries to support the yen, suggesting such an operation could be counterproductive. The official warned that selling U.S. debt holdings could push up Treasury yields, potentially leading to further yen weakness. The official noted that Japan has sufficient cash and deposit funds for intervention if needed.
U.S. homebuilder sentiment improved slightly in May due to expectations of a late-spring demand surge. However, the index remained below 50, indicating prevailing pessimism. High mortgage rates, rising oil prices, and economic uncertainty continue to pressure potential homebuyers.
In individual company news, a judge dismissed a lawsuit filed by Tesla (TSLA) CEO Elon Musk against OpenAI and its CEO Sam Altman. The jury ruled that OpenAI and Altman were not liable, as Musk filed the suit too late, and claims that OpenAI deviated from its original charitable mission were time-barred.
Apple (AAPL) is reportedly preparing a suite of AI features for its next-generation iPhone and iPad operating systems, iOS 27 and iPadOS 27. The new capabilities are expected to include AI-powered writing tools, the ability to create system-level shortcuts using natural language, and custom wallpaper generation. The new software is slated for announcement at Apple's Worldwide Developers Conference in June, with a public release expected in September.
SpaceX has formally notified investors of a five-for-one stock split. Following the split, the estimated fair market value per share will be adjusted downward from approximately $526.59 to about $105.32. The split process is set to begin the week of May 18 and is expected to be completed by May 22. Reports last Friday indicated that SpaceX could file its long-awaited IPO registration as early as this Wednesday.
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