US close: Stocks mixed as investors await bank earnings

Wall Street stocks delivered a mixed performance on Monday as major indices struggled to extend gains recorded in their first strong session of 2023.

At the close, the Dow Jones Industrial Average was down 0.34% at 33,517.65 and the S&P 500 slipped 0.08% to 3,892.09, while the Nasdaq Composite saw out the session 0.63% firmer at 10,635.65.

The Dow closed 112.96 points lower on Monday following a strong performance in the previous session after non-farm payrolls came in slightly higher than expected.

Monday marked the beginning of another week full of key macroeconomic data, with last month's consumer price index out on Thursday, while earnings will also be in focus, as the likes of Bank of America, Bank of New York Mellon, BlackRock, Wells Fargo, JPMorgan Chase, Citigroup, and Delta Air Lines all report their latest quarterly figures on Friday.

As far as the bank earnings go, investors will zero in on the level of bad loan provisions and mortgages, given that although rising interest rates will be good for earnings, higher-than-expected interest rates will likely threaten credit quality, loan growth, and net interest margins.

Capitol Hill was also drawing an amount of investor attention after Republican Kevin McCarthy finally became US House Speaker after battling through 15 rounds and four days of chaotic voting. However, many view McCarthy's job to come as being even more difficult than his path to seize the gavel in the first place.

On Monday's macro slate, consumer credit increased to $27.96bn in November, according to the Federal Reserve, up from $27.08bn a month earlier.

In the corporate space, Uber shares traded higher after analysts at Piper Sandler upgraded the stock to 'overweight', while WD-40 posted first-quarter earnings and revenues that fell short of expectations.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Salesforce.Com Inc. (CRM) $147.10 4.69%
Intel Corp. (INTC) $29.31 2.02%
Goldman Sachs Group Inc. (GS) $353.00 1.41%
Microsoft Corp. (MSFT) $227.12 0.97%
Walt Disney Co. (DIS) $94.77 0.91%
Cisco Systems Inc. (CSCO) $48.58 0.54%
Dow Chemical Co. (DOW) $55.28 0.47%
Apple Inc. (AAPL) $130.15 0.41%
Visa Inc. (V) $218.60 0.39%
Nike Inc. (NKE) $124.85 0.26%

Dow Jones - Fallers

Merck & Co. Inc. (MRK) $110.38 -3.88%
Johnson & Johnson (JNJ) $175.58 -2.59%
Travelers Company Inc. (TRV) $189.12 -2.45%
Boeing Co. (BA) $208.57 -2.08%
Verizon Communications Inc. (VZ) $41.37 -1.94%
Amgen Inc. (AMGN) $270.12 -1.85%
Walmart Inc. (WMT) $144.95 -1.25%
Coca-Cola Co. (KO) $62.61 -1.25%
Procter & Gamble Co. (PG) $152.04 -1.22%
Caterpillar Inc. (CAT) $246.74 -0.90%

S&P 500 - Risers

Norwegian Cruise Line Holdings Ltd (NCLH) $13.78 5.67%
Nvidia Corp. (NVDA) $156.28 5.18%
National Oilwell Varco Inc. (NOV) $22.87 5.15%
Advanced Micro Devices Inc. (AMD) $67.24 5.13%
Salesforce.Com Inc. (CRM) $147.10 4.69%
Royal Caribbean Cr (RCL) $57.29 4.18%
Cadence Design Systems Inc. (CDNS) $165.92 3.92%
Ansys Inc. (ANSS) $247.99 3.58%
Helmerich & Payne Inc. (HP) $47.39 3.47%
Chipotle Mexican Grill Inc. (CMG) $1,446.74 3.19%

S&P 500 - Fallers

Baxter International Inc. (BAX) $44.72 -7.74%
Regeneron Pharmaceuticals Inc. (REGN) $680.49 -7.69%
Macy's Inc. (M) $20.43 -7.68%
Northrop Grumman Corp. (NOC) $495.41 -4.99%
Pfizer Inc. (PFE) $48.39 -4.97%
Bread Financial Holdings, Inc. (BFH) $39.35 -4.28%
Medtronic Plc (MDT) $77.54 -4.11%
Lincoln National Corp. (LNC) $30.65 -3.95%
Merck & Co. Inc. (MRK) $110.38 -3.88%
Eli Lilly and Company (LLY) $349.83 -3.61%

Nasdaq 100 - Risers

Tesla Inc (TSLA) $119.77 5.93%
Nvidia Corp. (NVDA) $156.28 5.18%
Asml Holdings N.V. (ASML) $621.33 4.28%
Cadence Design Systems Inc. (CDNS) $165.92 3.92%
Align Technology Inc. (ALGN) $227.67 3.13%
American Airlines Group (AAL) $14.61 3.03%
Autodesk Inc. (ADSK) $192.47 2.82%
Adobe Systems Inc. (ADBE) $341.98 2.77%
Mercadolibre Inc. (MELI) $897.31 2.73%
KLA-Tencor Corp. (KLAC) $408.33 2.70%

Nasdaq 100 - Fallers

Regeneron Pharmaceuticals Inc. (REGN) $680.49 -7.69%
eBay Inc. (EBAY) $43.52 -3.52%
Gilead Sciences Inc. (GILD) $85.10 -3.38%
Incyte Corp. (INCY) $78.82 -2.53%
NetEase Inc. Ads (NTES) $79.52 -2.44%
Vertex Pharmaceuticals Inc. (VRTX) $283.23 -2.41%
Ross Stores Inc. (ROST) $118.73 -2.34%
Intuitive Surgical Inc. (ISRG) $264.93 -2.02%
Broadcom Inc. (AVGO) $576.89 -1.96%
Amgen Inc. (AMGN) $270.12 -1.85%