S&P 500 flatlines while Dow and Nasdaq moderates

The Dow and the major U.S. indexes fell on Monday as the Dow technology stocks tumbled.

Major Wall Street leading indices closed lower at the close, with the Dow Jones Industrial Average (DIA) down 55.20 points, or 0.2%, at 33,745.40.

Losses were concentrated in communication services, information technology, and energy stocks. The broad S&P 500 Index (SPY) of large-cap stocks closed at 4,127.99.

The technology-focused Nasdaq Composite Index (QQQ) rose 0.5% to close at 13,900.19.

A measure of implied volatility known as the CBOE VIX (VXX) edged slightly higher on Monday. The so-called “investor fear index” reached an intraday high of 16.91 on a scale of 1-100, where 20 represents the historical average. It would eventually settle up 1.3% at 16.91.

In commodities, oil prices rose on Monday, with U.S. West Texas Intermediate futures gaining 45 cents, or 0.8%, to $59.77 a barrel on the New York Mercantile Exchange. Brent, the international futures contract, rose 40 cents or 0.6%, to $63.35 a barrel.

In precious metals, gold prices declined on Monday, as the June futures contract dipped $12.60, or 0.7%, to $1,732.20 a troy ounce on the Comex division of the New York Mercantile Exchange. Silver futures fell 48 cents, or 1.9%, to $24.85 a troy ounce.

Still, markets continue to be supported near all-time highs despite Monday’s modest pullback. Investors are pushing up share prices on optimism the U.S. economy is regaining momentum.

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