The indices remained steady but the broader market weakly so sliding in reaction to rising geopolitical tensions between the US and North Korea and a slump in oil prices.
The Dow Index fell -0.17% to close at 20,975.78.
Financial, tech and energy firms were among the losers with Chevron recording the biggest slide by -1.50% to 150.08. Exxon Mobil saw a -0.70% to close to 82.31 affected by the glut of cheap crude and highlighting the battering of the sector.
Cisco saw a drop of -1.14% closing at 33.90 after BMO’s CEO Tim Long cut the equipment vendor’s rating saying the transformation to a software and services vendor could “take many years” according to Barron’s. Cisco's revenue remains stagnant.
Upbeat financial results
The Nasdaq Composite was buoyant closing up +0.29% to 6,120 after another rally and record high. The benchmark continues to press its intraday boundary high of 6,133. It’s the 30th closing record of the year.
The markets still rode an optimistic if subdued wave amidst strong result announcements.
Strong performers were investment managers 180 Degree Capital Corp climbed +2.98% to 1.68 and internet retail florist 1-800-Flowers.Com saw a 2.35% change to 10.90
Tech company 2U Inc fell -0.48 points to 41.56 and financial group 1st Source Corp dropped -0.40 to 48.55.
S&P a mixed bag
The S&P 500 fell -0.10% to 2,396.92. Top performers were Marriott International +6.36% to 102.50 as it generates record profits because of higher occupancy figures.
Both American Airlines Group Inc and United Continental Holdings Inc were up +4.76% to 47.08 and 78.55 respectively after positive results pushing up other airline stocks.
Container & packaging company, Sealed Air Corp Q1, fell -8.86% to 42.30 on disappointing earnings narrowly missing its estimate. Broadcaster Tegna also missed revenue estimate and was down -6.75% to 24.05.
International Flavors & Fragrances lagged both earnings and revenues forecasts and fell further -6.11% to 128.98.
Optimism but no promised 3% growth
The National Federation of Independent Businesses released results of its Small Business Optimism Index showing the index dipped only 0.2 points in April a smaller drop than expected but showing continued high levels of optimism among small business owners.
This latest data continues the high seen for six straight months post-election. It's the highest the indicator has been in 12 years.
The Trump Adminstration says a key goal of achieving 3% GDP growth this year is unlikely to be attained.
Commerce Secretary Wilbur Ross made the comments on Monday assuring that while growth is unlikely in 2017 once Trump’s pro-business policies were implemented the goal would be more likely to be achieved the following year.
Meanwhile, the reverberations of a Macron win in the French election is on the wane as investors had already factored it.
Now a tepid market seems to be idling along as investors wait for the outcome of other major events in June such as the UK elections and a Fed policy decision scheduled for 14 June.
Other economic data include inventory data on Wednesday and later this week the Consumer Price Index and Retail Sales as well as Consumer Sentiment are due.
Two-year Treasury yields continue to rise by +0.91 to +1.355 %. Bond prices move inversely to yields. Oil fell 50 cents to $46. Gold rose +0.56% to 1,222.90.