It’s not often the Dow is the most reflective of the major indexes when it comes to what’s going on in the stock market, but Monday’s trading is different.
The blue-chip index was down 40 points, or 0.1%, on Monday. Roughly 21 of of its 30 stocks were on the decline. That compares with the S&P 500’s 0.4% uptick and the Nasdaq Composite’s gain of 0.7%.
But under the hood, the stock market was struggling. Only 190 S&P 500 stocks were set to close higher. The Invesco S&P 500 Equal Weight ETF, a proxy for S&P 500 breadth, was down 0.1%—just like the Dow. At the start of the holiday-shortened week, those still working on Wall Street weren’t very confident much of anything other than Big Tech.
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