The S&P 500 fell slightly on Monday as the benchmark struggled to make a run at a record high after a winning week.
The Dow Jones Industrials stumbled 61.82 points at 34,694.57
The S&P 500 dipped 9.1 points to 4,220.79.
The NASDAQ jumped handed back 3.55 points to 13,810.94.
Tech stocks were weak in morning trading, weighing on sentiment a bit. Shares of Zoom and Tesla each fell about 1%.
Visa shares were higher, gaining 1% following an upgrade by Piper Sandler.
Meme stocks are back in the spotlight again this week. AMC rallied 20% on Monday. Most of these speculative stocks, including GameStop, AMC and BlackBerry, ended the week in the red despite massive gains after a volatile trading week.
Over the weekend the G-7 nations reached an agreement on global tax reform, calling for the world’s largest corporations to pay at least a 15% tax on their earnings.
That’s lower than the Biden administration’s initial suggestion of a minimum 21% tax rate, which didn’t garner much enthusiasm in other countries. Major companies including Facebook and Google have responded favorably to the agreement.
Prices for 10-Year Treasurys bowed, raising yields to 1.57% from Friday’s 1.56%. Treasury prices and yields move in opposite directions.
Oil prices lost 32 cents to $69.30 U.S. a barrel.
Gold prices grabbed $20.70 to $1,894.00 U.S. an ounce.