Meanwhile, the Securities Industry and Financial Markets Association, or Sifma, recommended the bond market’s closure in line with the U.S. Treasury Department’s holiday schedule.
There was no economic data released on Monday, though investors were parsing a speech from Boston Fed President Eric Rosengren, who argued Monday that regulators around the world should be increasing capital buffers for large banks.
Looking ahead, Trump will speak at the Economic Club of New York on trade Tuesday, and Fed Chairman Powell is scheduled to appear on Wednesday before the Congressional Joint Economic Committee and then in front of the House Budget Committee, a day after.
Which stocks are in focus?
Shares of General Electric Co . /zigman2/quotes/208495069/composite GE -1.10% ended lower by 1.5% after the industrial conglomerate closed at a better-than one-year high on Friday. The company’s stock had risen about 27% since the Oct. 30 release of third-quarter earnings, through Friday’s close.
Shares of Apple Inc . /zigman2/quotes/202934861/composite AAPL +1.45% and Goldman Sachs Group /zigman2/quotes/209237603/composite GS +1.77% were 0.7% higher and 1.8% lower, respectively, after The New York Department of Financial Services said its opening a probe into the new Apple Card after a series of tweets from a technology entrepreneur David Heinemeier Hansson accused it of gender discrimination.
U.S. traded shares of Alibaba Group Holding Ltd . /zigman2/quotes/201948298/composite BABA +0.73% fell 0.3% Monday, during the Chinese e-retailer’s “single’s day” sales event, an annual marketing event that is the world’s busiest shopping day.
Shares of Qualcomm Inc. closed down 2.1% after Morgan Stanley downgraded the semiconductor chip manufacturer.
How did other assets trade?
December gold on Comex fell 0.4%% at $1,455.50 an ounce after putting in a weekly loss of 3.2%, marking its sharpest weekly loss in more than two years, according to FactSet data.
West Texas Intermediate crude for December delivery was down 0.7%, or 38 cents, to $56.86a barrel on the New York Mercantile Exchange, after a weekly gain of 1.9% during the five sessions ended Friday.
The ICE U.S. dollar index /zigman2/quotes/210598269/delayed DXY +0.17% , a gauge of the greenback’s performance against six major rivals, was off 0.2%.
In Asia overnight, the China CSI 300 /zigman2/quotes/210598128/delayed XX:000300 +2.30% fell 1.8%, and the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +1.84% declined 1.8%. Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.17% fell 2.6%, while Japan’s Nikkei 225 Index /zigman2/quotes/210597971/delayed JP:NIK +0.34% slipped 0.3%.
In Europe, the Stoxx Europe 600’s /zigman2/quotes/210599654/delayed XX:SXXP -0.29% was up less than 0.2%