4:16pm: Amazon, Shopify make gains
The Dow closed Monday down 57 points, 0.2%, at 35,333, the Nasdaq Composite lost 10 points, less than 0.1%, to 14,241 and the S&P 500 declined 9 points, 0.2%, to 4,550. The small-cap Russell 2000 index fell 6 points, 0.3%, to 1,802.
Overall, the market was choppy coming off a rally that has stretched the past four weeks.
Cyber Monday saw shares of Amazon rise 0.7%, Shopify stock gain 4.9% and buy-now-pay-later company Affirm shares surge almost 12%.
Investors are also looking ahead to Tuesday morning when the consumer confidence report is due, and Thursday, when the personal consumption expenditures price index will come out.
12:00pm: US stocks mixed at midday
US stocks were mixed after disappointing data from China and weak housing data in the US.
At midday, the Dow Jones was down 80.87 points, 0.2%, at 35,309.28, the S&P 500 was down 3.25 points, 0.15, at 4,556.09 and the Nasdaq Composite was up 30.77 points, 0.2%, at 14,281.62.
Sales of new single‐family houses in October 2023 were at a seasonally adjusted annual rate of 679,000, according to estimates released jointly on Monday by the US Census Bureau and the Department of Housing and Urban Development.
The number represents a decline of 5.6% from the September revised rate of 719,000 and is below FXStreet-cited consensus of 725,000.
The median sales price of new houses sold in October 2023 was $409,300 and the average sales price was $487,000, the publication revealed.
9:40am: US stocks consolidate recent gains
US stocks eased in the absence of any fresh catalysts consolidating gains which have seen indices rise for four straight weeks.
Shortly after the opening bell, the Dow Jones Industrial Average was down 19.00 points, 0.1%, at 35,371.15, the S&P 500 was down 12.15 points, 0.3%, at 4,547.19 and the Nasdaq Composite was down 36.91 points, 0.3%, at 14,213.94.
Retailers were in focus as Adobe upgraded its Cyber Monday forecast after witnessing strong US spending at online retailers over the Thanksgiving weekend, despite persistent inflation and high interest rates.
The software company said sales across the ecommerce sector for Cyber Monday are expected to be between $12 billion to $12.4 billion, Adobe said on Monday, up from previous forecasts of $12 billion and $11.3 billion a year ago.
7:00am: US markets expected to open lower as oil price dips
US stock futures dipped on Monday as Wall Street looks to build on four straight positive weeks for the equity market.
In pre-market trading, futures for the Dow Jones Industrial Average were down 0.1%, while those for the S&P 500 were 0.1% lower, and contracts for the Nasdaq 100 futures eased 0.1%.
Joshua Mahoney at Scope Markets said: “US markets look set for a negative open today, as we enter what could be a fifth consecutive week of gains across all three major US indices.”
He pointed out the latest core PCE price index data due on Thursday should help further inform markets over the likeliness of such a swift return to monetary easing.
Retailers will remain on focus as the winners and losers from black Friday are assessed – Mahoney noted that “early signs have pointed towards continued strength according to the key Adobe Analytics report,” with Friday seeing US consumers splash a record $9.8 billion in online sales.
Energy stocks may be a weak early feature as the oil price declined once more after tepid industrial profit figures from China.
According to the National Bureau of Statistics showed industrial profit in China in October rose 2.7% year-on-year, "achieving positive growth for three consecutive months, and the efficiency of industrial enterprises continued to improve".
However, growth eased markedly from a roughly 12% surge in September.
The price of West Texas Intermediate declined 1.5% to $74.45.