Market Pulse: S&P 500 and Nasdaq Composite succumb to selling pressure to end lower Monday as Dow ends flat

February 7, 2022

U.S. stocks closed lower Monday after the S&P 500, Dow industrials and Nasdaq Composite waffled between small gains and losses throughout the session until ultimately succumbing to selling pressure.

Declines in communication services
SP500.50,
-2.24%,
down 2.2%, and information technology
SP500.45,
-0.66%,
off 0.7%, led the session’s declines, while energy
SP500.10,
+1.31%,
up 1.3%, led gainers, extending what has been a stellar run for oil and gas producers, up 26% so far in 2022.

The Dow Jones Industrial Average
DJIA,
+0.00%
finished Monday trade 1.39 points higher at roughly 35,091.
The S&P 500 index
SPX,
-0.37%
closed down 0.5% lower to around 4,484.
The Nasdaq Composite Index
COMP,
-0.58%
ended the day off 0.6% to about 14,016.

In corporate news, shares of Peloton Interactive Inc.
PTON,
+20.93%
finished the session up 21% amid speculation about suitors for the exercise-equipment company.

Meanwhile, Spirit Airlines
SAVE,
+17.17%
rose over 17% on Monday after it said it was merging with Frontier Group
ULCC,
+3.47%.

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