LIVE MARKETS-Wall St snaps 5-day rally as crypto sours the mood

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WALL STREET SNAPS 5-DAY RALLY AS CRYPTO SOURS THE MOOD

Wall Street's three major indexes closed lower on Monday, ending a 5-session winning streak while U.S. Treasuries also sold off.

A tumble in bitcoin that started on Sunday and deepened into Monday appeared to put a big damper on investor appetites for other asset classes too. And in a circular kind of a way, it didn't help the mood when Strategy Inc MSTR.O - the largest corporate holder of bitcoin - cut its earnings forecast for 2025, citing the weak run in bitcoin. The stock ended down 3.3% after managing to pare earlier losses.

Also, in the not-helping-equities department, were the contradictory reads on the strength of U.S. manufacturing and in particular the Institute for Supply Management's (ISM) purchasing managers' index $(PMI)$ USPMI=ECI, which showed a deepening of the sector's slump.

Among the S&P 500's 11 major sectors, the biggest loser was utilities .SPLRCU, down 2.4%, with power companies - huge beneficiaries of the AI trade - representing some of the sector's biggest decliners on Monday. Energy .SPNY, up 0.9%, led the gainers. This, as oil prices settled up more than 1% following drone attacks by Ukraine, the closure of Venezuelan airspace by the United States, and OPEC's decision to leave output levels unchanged in the first quarter of 2026.

The consumer discretionary sector .SPLRCD ended barely higher and retail stocks were a mixed bag in initial stages of the holiday shopping season, even after Adobe Analytics' Black Friday data showed shoppers spending a record $11.8 billion online, up 9.1% from last year.

Here is your closing snapshot:

(Sinéad Carew, Terence Gabriel)

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EARLIER ON LIVE MARKETS:

LOOKING FORWARD, CROSSMARK GLOBAL SEES RISING BOND YIELDS AND CHALLENGED STOCKS CLICK HERE

PMI FIGHT! CLICK HERE

DOLLAR FACES FURTHER WEAKNESS, BUT SHOULD REBOUND NEXT YEAR CLICK HERE

RBC EYES 7,750 FOR S&P 500 IN 12 MONTHS, SEES CONTRARIAN BUY SIGNALS CLICK HERE

WALL STREET STARTS DECEMBER TRADING IN THE RED CLICK HERE

GROWTH VS MOMENTUM: THE RACE MAY COME DOWN TO THE WIRE CLICK HERE

LUXURY: WELL POSITIONED FOR ACCELERATING GROWTH CLICK HERE

DEFENCE SELLOFF: CITI ADVISES BUYING THE DIP CLICK HERE

MIXED START, DEFENCE STOCKS LAG CLICK HERE

EUROPE BEFORE THE BELL: RISK-OFF AFTER BLUE-RIBBON WEEK CLICK HERE

RATE HIKE PROSPECT ARRESTS YEN DECLINE, FOR NOW CLICK HERE

(Terence Gabriel is a Reuters market analyst. The views expressed are his own)