US stock indexes ended mixed on Monday as weakness in megacap technology names outweighed optimism about progress in restoring energy supplies from the Middle East. The S&P 500 slipped 0.4%, while the Nasdaq 100 declined 0.2%.
Alphabet fell 5.2% following reports that another senior AI researcher had departed for a rival, heightening worries about its competitive position in artificial intelligence. Other major tech names also retreated: Broadcom dropped 4.7%, Amazon 4.4%, Microsoft 3.2%, and Meta 2.7%. SpaceX sank 16.4% after unveiling a new bond sale.
By contrast, Micron climbed 6.8% after announcing a strategic partnership with Anthropic. The Dow Jones Industrial Average gained 148 points, supported in part by risk-on sentiment after Iran said recent talks with the US had made “significant progress,” with both sides aiming for a peace agreement within two months.
Energy prices extended their decline on expectations that supply from the Middle East will be restored, while persistent expectations of a hawkish Federal Reserve, following last week’s policy meeting, continued to weigh on US Treasuries.
