Wall Street’s major market averages showed minimal movement on Monday as the second half of the 2024 trading year began. The Dow was steady, the S&P 500 was flat, and the Nasdaq Composite was up 0.3%. Consumer Discretionary and Info Tech were the top-performing sectors, while Real Estate lagged behind. Yields on the U.S. 2 Year and 10 Year Treasuries rose. Traders will be focused on the June jobs report due on Friday, with the holiday-shortened week ahead. U.S. PMI Manufacturing slightly missed expectations in June, while the ISM Manufacturing PMI dipped further into contraction territory. The artificial intelligence theme is being closely watched by investors as tech stocks are expected to rise in the second half of the year. Chewy shares were down 5.2% after influential trader Keith Gill disclosed a stake in the company.
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