US close: Wall Street starts holiday week mixed
Wall Street started the holiday-shortened week in mixed form on Monday, as traders tried to shake off two consecutive weeks of losses.
The Dow Jones Industrial Average was ahead 0.31% at 23,430.33 and the S&P 500 added 0.13% to 2,582.14, while the Nasdaq 100 fell 0.09% to settle at 6,308.61.
Trading volumes were expected to be somewhat lighter during the week, ahead of the Thanksgiving holiday on Thursday.
On Monday afternoon, US Federal Reserve chair Janet Yellen announced that she would not remain on the central bank's board as a governor once her current tenure as president was up.
Earlier in the day US President Donald Trump announced that North Korea would be added back to the list of countries that are state sponsors of terrorism, with new sanctions against Pyongyang set to be unveiled on Tuesday.
Meanwhile, the economic agenda was rather sparse, with traders left with only the Conference Board's index of leading economic indicators to digest.
The think-tank's gauge rose by a hearty 1.2% month-on-month in October, doubling analysts' forecasts.
"The growth of the LEI, coupled with widespread strengths among its components, suggests that solid growth in the US economy will continue through the holiday season and into the new year," said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board.
In corporate news, shares of chip maker Cavium jumped 10.8% following a report that Marvell Technology is close to a deal to buy the company for around $6bn.
Marvell’s own shares rose 6.41%.
Stock in fashion retailer Abercrombie & Fitch was another standout gainer, leaping 9.58% after the company posted better-than-expected third quarter earnings and reported a 4% rise in like-for-like sales, easily beating analysts who had anticipated a modest 0.4% improvement.
Chinese e-commerce company Alibaba was also on the front foot, finishing the session 1.57% firmer after saying it will buy a 36% stake in China big-box retailer Sun Art Retail Group for $2.88bn.
Dow Jones - Risers
Nike Inc. (NKE) $59.25 3.53%
Verizon Communications Inc. (VZ) $46.20 3.19%
Home Depot Inc. (HD) $170.45 1.76%
Cisco Systems Inc. (CSCO) $36.50 1.67%
International Business Machines Corp. (IBM) $150.53 0.93%
Boeing Co. (BA) $264.58 0.90%
3M Co. (MMM) $231.48 0.90%
Caterpillar Inc. (CAT) $136.91 0.57%
JP Morgan Chase & Co. (JPM) $99.02 0.55%
American Express Co. (AXP) $93.95 0.28%
Dow Jones - Fallers
Coca-Cola Co. (KO) $45.47 -2.34%
Merck & Co. Inc. (MRK) $54.10 -1.94%
General Electric Co. (GE) $17.99 -1.48%
United Technologies Corp. (UTX) $116.45 -1.28%
Procter & Gamble Co. (PG) $88.27 -1.10%
Visa Inc. (V) $109.95 -0.96%
Walt Disney Co. (DIS) $102.75 -0.82%
Travelers Company Inc. (TRV) $129.80 -0.80%
McDonald's Corp. (MCD) $167.00 -0.69%
Johnson & Johnson (JNJ) $137.95 -0.68%
S&P 500 - Risers
Gap Inc. (GPS) $29.93 8.92%
Hewlett Packard Enterprise (HPE) $14.09 6.18%
Under Armour Inc. Class A (UAA) $13.44 5.33%
Target Corp. (TGT) $57.88 5.05%
PVH Corp. (PVH) $136.37 4.95%
Kohls Corp. (KSS) $44.33 4.90%
Kroger Co. (KR) $23.20 4.13%
Frontier Communications Co. (FTR) $7.23 3.88%
TEGNA Inc (TGNA) $13.03 3.74%
Nordstrom Inc. (JWN) $41.44 3.68%
S&P 500 - Fallers
SCANA Corp. (SCG) $42.67 -5.18%
PG&E Corp. (PCG) $52.65 -4.53%
Ryder System Inc. (R) $76.64 -4.52%
Cardinal Health Inc. (CAH) $55.00 -4.36%
Chesapeake Energy Corp. (CHK) $3.87 -3.73%
Endo International Plc (ENDP) $7.27 -3.58%
Patterson Companies Inc. (PDCO) $34.82 -3.39%
Tenet Healthcare Corp. (THC) $13.17 -3.16%
McKesson Corp. (MCK) $138.23 -3.13%
Mylan Inc. (MYL) $36.50 -2.90%
Nasdaq 100 - Risers
Micron Technology Inc. (MU) $47.64 3.21%
Wynn Resorts Ltd. (WYNN) $156.96 3.07%
Analog Devices Inc. (ADI) $93.07 2.93%
Dollar Tree Inc (DLTR) $97.11 2.64%
Lam Research Corp. (LRCX) $215.10 2.20%
Applied Materials Inc. (AMAT) $57.62 2.00%
Tractor Supply Company (TSCO) $65.73 1.91%
Liberty Global Plc Lilac Class A (LILA) $21.81 1.82%
Cisco Systems Inc. (CSCO) $36.50 1.67%
PACCAR Inc. (PCAR) $67.70 1.51%
Nasdaq 100 - Fallers
NetEase Inc. Ads (NTES) $344.07 -6.38%
Incyte Corp. (INCY) $98.95 -6.18%
Shire Plc Ads (SHPG) $141.37 -4.07%
Mylan Inc. (MYL) $36.50 -2.90%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $209.16 -2.76%
JD.com, Inc. (JD) $39.20 -2.61%
Henry Schein Inc. (HSIC) $67.50 -2.34%
Alexion Pharmaceuticals Inc. (ALXN) $108.49 -2.15%
Tesla Inc (TSLA) $308.74 -2.00%
Twenty-First Century Fox Inc Class B (FOX) $29.90 -1.90%