Large-Cap Stocks Mostly Lower on Monday, Tech Stocks Gain

E-mini S&P 500 Index

General Electric rose 2.2 percent and was the biggest boost to the Dow.

Concerns about possible fallout from the tariffs largely supplanted optimism, based upon the modest wage growth numbers from Friday's employment report, that the Federal Reserve would stick to its projected three interest-rate increases in 2018.

"This equity market is in a muddle-along zone", says Terry Sandven, chief equity strategist at US Bank Wealth Management, adding that he expects US stocks to continue to rise, though at a more muted pace than in 2017.

Even with the session's losses, the S&P 500 is just 3.1 percent below record highs hit on January 26, while the Nasdaq.IXIC has recovered its losses from last month's sell-off.

However, the S&P and the Dow have almost reclaimed those losses.

Millennial railcard website crashes
What it means: The plan was to extend the very popular Young Person's Railcard to include more people. Meanwhile, Tom Drury, from London , wrote: "The launch of the new railcard is a shambles".

Rapid gains in technology stocks have already powered the Nasdaq.IXIC back to its record levels.

The Dow Jones Industrial Average gave up triple digit gains and the Nasdaq retreated after setting an intraday record high.

Last week's gains were also supported by U.S. President Donald Trump's softer stance on his decision to impose import tariffs on steel and aluminum by exempting Canada and Mexico. The S&P 500.SPX is just 3 percent below the record highs hit on January 26 and the Dow.DJI is 4.8 percent away from its peak. However, trade turned lacklustre through the course of the session as investors exercised caution ahead of data on inflation, retail sales, housing and industrial production, due in the coming days. Lumentum's shares rose 3.8 percent.

Advancing issues outnumbered declining ones on the NYSE by a 1.22-to-1 ratio; on Nasdaq, a 1.45-to-1 ratio favored advancers.

South Korea rose one per cent while Japan's Nikkei jumped 1.2 per cent, showing little immediate reaction as Prime Minister Shinzo Abe came under renewed fire over suspicions of cronyism involving the sale of state-owned land.

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