Stocks end mixed on Wall Street ahead of busy earnings week

Stocks wobbled to a mixed finish on Wall Street Monday as the market’s momentum slowed down following its best week since July.

The muted trading comes ahead of a busy week of corporate earnings that could help investors find a smoother path ahead for stocks after weeks of choppiness. Investors are also trying to figure out how the broader economy will continue its recovery with COVID-19 lingering as a threat, while businesses and consumers face rising inflation.

The S&P 500 rose 15.09 points, or 0.3 percent, to 4,486.46, with stocks roughly split between gainers and losers. The benchmark index has been choppy for weeks. It rose 1.8 percent last week for its best week since July, though it shed 2.2 percent just two weeks prior.

The Dow Jones Industrial Average fell 36.15 points, or 0.1 percent, to 35,258.61. The Nasdaq rose 124.47, or 0.8 percent, 15,021.81.

Technology stocks and companies that rely on direct consumer spending made broad gains, but were tempered by losses from health care and other companies. Chipmaker Nvidia rose 1.6 percent and Target rose 3.2 percent. Medical device company Medtronic fell 5.5 percent.

Energy stocks managed gains as U.S. crude oil prices bounced from small gains to losses. Prices have soared nearly 70 percent so far this year. Occidental Petroleum rose 4 percent. A mix of retailers and other companies that rely on consumer spending also rose.

The yield on the 10-year Treasury rose to 1.58 percent from 1.57 percent late Friday.

The S&P 500 is still within roughly 1.1 percent of its all-time high set on Sept. 2, even with the swings within the broader market. Much of the churn is due to different sectors, such as technology stocks, shifting from leading gains to leading losses on any given day.

A wide range of companies have warned that supply chain problems have been crimping operations and could dent their finances through the rest of the year.