US close: Stocks mixed ahead of earnings flurry, Tesla lifts Nasdaq

US stocks finished mixed on Monday ahead of a busy week for corporate earnings, though the Nasdaq managed to push higher, led by gains from Tesla.

The Dow fell for the third straight session, falling 0.1% to 43,389.60; while the S&P 500 gained 0.4% to 5,893.62 and the Nasdaq finished 0.6% higher at 18,791.81, snapping a four-day losing streak.

"There are several important Q3 earnings updates to come, with retail giant Walmart tomorrow. But key amongst these is Nvidia, currently the most valuable company in the world by market capitalisation," said David Morrison, senior market analyst at Trade Nation.

"The generative AI chip giant releases its earnings after Wednesday’s close. This has the potential to influence markets substantially, particularly as NVIDIA is a constituent of not just the NASDAQ and S&P 500, but also the Dow."

Monday was a quiet day for economic data. The only major release was the National Association of Home Builders/Wells Fargo housing market index, which rose to 46 in November, up from 43 in October.

November's print was the highest reading in seven months and above market expectations for a reading of 44. Current sales conditions rose by two points to 49, while sales expectations went up by seven points to 64.

Market movers

Shares in electric carmaker Tesla surged following news that president-elect Donald Trump would look to establish a federal framework for fully self-driving vehicles and make it the Department of Transportation's priority number one.

Telsa has previously revealed plans to launch a Robotaxi service in 2026 but current government regulations would limit the potential service. However, founder Elon Musk's influence in the new White House could potentially lay the groundwork for mass deployment.

Trading in Spirit Airlines was halted after the budget carrier filed for Chapter 11 bankruptcy protection as it looks to restructure its debt after merger talks with Frontier collapsed.

Biotech giant Moderna was on the rise after HSBC lifted the stock to 'buy', trading platform Robinhood was boosted by a Needham upgrade to 'buy', while real estate group Redfin was hit with a downgrade by Goldman Sachs to 'sell'.

Nvidia finished firmly lower ahead of the chipmaker's quarterly earnings on Wednesday. Also scheduled to report before the end of the week are Deere and Palo Alto Networks, along with retail giants Dollar Tree, Lowe's, TJX, Walmart and Target.

“It’s a big week for US retailers updating on earnings and the outlook for trading. These figures should tell us a lot about the state of the US consumer and who is willing, or not willing, to spend money," said Danni Hewson, head of financial analysis at AJ Bell.

"Dollar Tree, TJX and Target all report this week and they’re focused on the most cost-conscious shopper. This part of the market has been challenged of late. Lower-income consumers have felt the pain of interest rates staying relatively high and they’ve scaled back spending where possible."

Dow Jones - Risers

Boeing Co. (BA) $143.95 2.63%
Walgreens Boots Alliance, Inc. (WBA) $8.66 2.12%
Intel Corp. (INTC) $24.84 2.01%
International Business Machines Corporation (CDI) (IBM) $208.18 1.51%
Verizon Communications Inc. (VZ) $42.25 1.44%
Apple Inc. (AAPL) $228.02 1.34%
Visa Inc. (V) $312.16 0.81%
Travelers Company Inc. (TRV) $262.69 0.72%
Procter & Gamble Co. (PG) $170.75 0.71%
Home Depot Inc. (HD) $410.39 0.55%

Dow Jones - Fallers

Nike Inc. (NKE) $74.89 -2.31%
Amgen Inc. (AMGN) $278.76 -1.71%
Walt Disney Co. (DIS) $113.54 -1.34%
Goldman Sachs Group Inc. (GS) $587.66 -0.94%
Salesforce.Com Inc. (CRM) $322.25 -0.93%
McDonald's Corp. (MCD) $291.14 -0.52%
American Express Co. (AXP) $285.37 -0.46%
Unitedhealth Group Inc. (UNH) $589.65 -0.44%
Chevron Corp. (CVX) $160.72 -0.41%
Cisco Systems Inc. (CSCO) $57.31 -0.26%

S&P 500 - Risers

Henry Schein Inc. (HSIC) $73.89 7.46%
Advance Auto Parts (AAP) $40.09 6.37%
CVS Health Corp (CVS) $56.05 5.38%
Boston Scientific Corp. (BSX) $90.36 3.98%
Microchip Technology Inc. (MCHP) $65.25 3.80%
Dollar Tree Inc (DLTR) $66.53 3.63%
Newmont Corporation (NEM) $42.36 3.49%
Air Products & Chemicals Inc. (APD) $327.93 3.40%
J. M. Smucker Co. (SJM) $110.47 3.32%
Baxter International Inc. (BAX) $33.00 3.32%

S&P 500 - Fallers

Dxc Technology Company (DXC) $19.64 -5.38%
CenturyLink Inc. (LUMN) $8.14 -4.80%
Foot Locker Inc. (FL) $22.48 -4.66%
Best Buy Co. Inc. (BBY) $88.98 -3.95%
Nektar Therapeutics (NKTR) $1.03 -3.74%
Kohls Corp. (KSS) $17.39 -3.39%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $353.35 -3.24%
Illumina Inc. (ILMN) $130.74 -3.19%
VF Corp. (VFC) $19.59 -2.83%
Eli Lilly and Company (LLY) $727.20 -2.55%

Nasdaq 100 - Risers

Henry Schein Inc. (HSIC) $73.89 7.46%
Tesla Inc (TSLA) $338.74 5.62%
Microchip Technology Inc. (MCHP) $65.25 3.80%
Dollar Tree Inc (DLTR) $66.53 3.63%
NetEase Inc. Ads (NTES) $88.26 3.24%
Trip.com Group Limited (TCOM) $61.32 3.08%
Texas Instruments Inc (TXN) $207.18 3.01%
Take-Two Interactive Software Inc. (TTWO) $182.93 2.99%
Western Digital Corp. (WDC) $64.58 2.83%
Netflix Inc. (NFLX) $847.05 2.80%

Nasdaq 100 - Fallers

Qurate Retail Inc. (QRTEA) $0.40 -5.45%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $353.35 -3.24%
Illumina Inc. (ILMN) $130.74 -3.19%
Sirius XM Holdings Inc (SIRI) $25.12 -2.64%
Biomarin Pharmaceutical Inc. (BMRN) $61.93 -2.35%
Amgen Inc. (AMGN) $278.76 -1.71%
Paypal Holdings Inc (PYPL) $84.67 -1.35%
Intuit Inc. (INTU) $678.81 -1.32%
Nvidia Corp. (NVDA) $140.15 -1.29%
Liberty Global plc Series C (LBTYK) $12.29 -1.29%