The 30-stock index rose 40.08 points, off its highs of the day, to close Monday at 33,431.05.
The S&P 500 eked past the breakeven point 2.78 points to 4,048.42.
The NASDAQ Composite sank 13.27 points to 11,675.74. Despite these moves, some tech stocks pushed higher. Apple led the sector’s gains, jumping about 2% after Goldman Sachs initiated coverage with a buy rating. The iPhone maker accounts for about 7% of the S&P. Alphabet and Microsoft also gained about 1% each.
Merck & Co. advanced 3.7% following the approval of a new way to administer some of its vaccines.
The Food and Drug Administration approved a new intra-muscular way to administer Merck’s family of vaccines for measles, mumps, rubella and varicella, the health-care company said Monday. These vaccines, which include M-M-R II, Varivax and ProQuad, had previously only been administered through the skin.
Apple shares gained more than 2.5% in Monday’s session following a bullish call from Goldman Sachs.
The Wall Street firm initiated coverage of the big technology stock as a buy. The bank’s price target implies the stock could rally more than 30%, which it tied in part to growing strength in its services and subscription offerings.
Factory orders slipped less than expected in January, according to data released Monday morning.
Net orders fell 1.6% from December, a small drop than the 1.8% slide expected by economists polled by Dow Jones.
Traders also await the February jobs report on Friday, after January’s blockbuster report showed the economy added 517,000 payrolls. Economists polled by Dow Jones are expecting 225,000 jobs added last month.
Prices for the 10-year Treasury fell a mite, raising yields to 3.98% from Friday’s 3.96%. Treasury prices and yields move in opposite directions.
Oil prices recovered 89 cents to $80.87 U.S. a barrel.
Gold prices dropped $2.40 to $1,852.40 U.S. an ounce.