Wall Street Holds Back on Big Bets Prior to Key Data – US Market Wrap

On Monday, the stock market struggled to gain traction as traders awaited this week’s batch of jobs data and remarks from Federal Reserve officials for clues on the interest-rate outlook.

In the absence of new catalysts, equities showed signs of exhaustion following a rally that propelled the S&P 500 to its 15th consecutive record this year. Treasuries fell, with syndicate desks forecasting $30 billion in new high-grade bond sales this week.

The S&P 500 edged down. Tesla dropped more than 7%. Nvidia gained 3.6%, passing Saudi Aramco to become the world’s third-most valuable public company. Super Micro Computer, which will join the US equity benchmark this month, has risen by nearly 1,000% in the last year. New York Community Bancorp fell following Friday’s credit downgrades.