Artificial intelligence remains in the spotlight, testing U.S. stocks after the S&P 500 posted its best three-week stretch since 2020.
Stocks slipped. The S&P 500, Nasdaq Composite and the Dow industrials were in the red. Trading activity is a little lighter ahead of Thanksgiving.
A mixed bag of retail results drove stock moves. Shares of Lowe’s and Best Buy slid, while Dick’s Sporting Goods and Burlington Stores jumped.
Treasurys held mostly steady. The benchmark 10-year yield is trading around 4.4%. A 20-year bond auction drew strong demand Monday.
Existing home sales fell to a new 13-year low in October. Sales dropped a surprisingly large 4.1% from the prior month.
Nvidia earnings are scheduled for after markets close.
Federal Reserve minutes are due at 2 p.m. ET.
More Treasury debt will be auctioned including a two-year note and a 10-year inflation-linked note.