Wall Street Weakens: Dow, S&P 500, and Nasdaq Close Lower on Monday

Market Overview

US stock markets closed lower on Monday as investors prepared for a series of upcoming economic data releases. The Dow Jones Industrial Average fell 41.49 points or 0.09% to close at 48,416.56. The S&P 500 index weakened by 10.90 points or 0.16% to 6,816.51, while the Nasdaq Composite experienced a more significant drop of 137.76 points or 0.59%, closing at 23,057.41.

Sector Performance

Eight of the eleven major sectors in the S&P 500 showed gains, led by the healthcare sector which surged 1.3%. In contrast, the information technology sector declined by 1%, weighed down by ServiceNow's 11.5% drop following reports that the cybersecurity company was in advanced talks to acquire Armis.

Economic Data Anticipation

Investors are now focused on several key economic indicators set to be released later this week. These include non-farm payroll data for October and November, retail sales figures, business activity reports, and inflation data. The October jobs report was delayed due to a government shutdown earlier in the quarter.

Market Implications

The market's reaction reflects investor caution ahead of critical economic data that could influence future monetary policy decisions. The upcoming data releases are expected to provide further guidance on the economic outlook and potential interest rate adjustments by the Federal Reserve.