Stocks are showing a relatively uneventful performance in Monday's trading session following a volatile week. The Dow is in negative territory, while the Nasdaq and the S&P 500 are hovering around the unchanged line. The Nasdaq is slightly up by 3.37 points at 19,575.97, the S&P 500 is down by 15.76 points at 5,915.09, and the Dow is down by 291.92 points at 42,548.34.
The Dow is being dragged down by a decline in Walmart shares, which are down by 2.8 percent. Other Dow components like Salesforce (CRM), Disney (DIS), and Boeing (BA) are also seeing notable losses. Traders seem hesitant to make significant moves in anticipation of a quiet week leading up to the Christmas holiday.
Market uncertainty, coupled with reduced trading activity ahead of Christmas Eve, is keeping traders on the sidelines. The latest economic data from the U.S. shows a larger-than-expected drop in durable goods orders in November. Orders fell by 1.1 percent, compared to a modest increase in October.
A separate report indicates a surprising decline in consumer confidence in December. The consumer confidence index dropped to 104.7 from 112.8 in November, contrary to economists' expectations.
In sector news, most major sectors are showing minimal movement, contributing to the subdued market performance. Gold stocks are notably down, influenced by a decline in gold prices. Telecom stocks are also weak, while semiconductor stocks are performing well.
In international markets, most Asian markets are up, with Japan's Nikkei 225 Index rising by 1.2 percent. European markets are mixed, with the FTSE 100 up, the CAC 40 down, and the DAX down slightly.
The bond market is seeing a decrease in treasuries after a rebound on Friday, leading to an increase in the yield on the ten-year note.