Stocks are continuing their lackluster performance in mid-afternoon trading on Monday, as a blend of market drivers is seeing a mixed reaction from traders. The major averages are currently all in negative territory by slim margins.
This morning, stocks moved higher after the Institute for Supply Management - Chicago reported that activity in the Chicago-area manufacturing sector continued to expand in November, with the report showing an unexpected acceleration in the pace of growth.
Traders were also reassured by comments from the Central Bank of the United Arab Emirates, which said that it would extend additional funds for local and foreign banks to cope with the financial crisis resulting from the potential failure of Dubai World.
The markets are also reacting to initial reports from the National Retail Federation, which revealed that the average consumer spent less on Black Friday this year than last year, although the number of shoppers increased compared to last year.
The major averages have all seen choppy movement in recent dealing, lingering just below the unchanged mark. The Dow is currently down 4.76 at 10,305.16, the Nasdaq is down 6.13 at 2,132.31 and the S&P 500 is down 0.86 at 1,090.63.
Dow Components
Most of the Dow components are showing only modest moves in mid-afternoon trading, contributing to the lack of direction being shown by the blue chip index.
Home Depot (HD) is one of the Dow's worst performers, posting a loss of 1.5 percent. With the retreat, the stock is pulling back further off of the two-month closing high set last week.
AT&T (T), Disney (DIS) and McDonald's (MCD) are also moving lower, among others, while American Express (AXP) is the leading gainer, advancing by 1.5 percent. Shares of the credit card giant continue to hover near a sixteen-month closing high.
Bank of America (BAC), JP Morgan Chase (JPM) and Caterpillar (CAT) are also on the rise, helping to offset the modest losses being posted by other components in the blue chip index.
Sector News
Tobacco and healthcare provider stocks continue to show weakness in mid-afternoon trading, dragging down the NYSE Arca Tobacco Index and the Morgan Stanley Healthcare Provider Index down by 2.1 percent and 2 percent, respectively.
The tobacco index has fallen to a three and a half week low, while the healthcare provider index has dropped to its worst intraday level in just over two and a half months.
Electronic storage stocks are also notably weaker, with the NYSE Arca Disk Drive Index down by 1.3 percent. The index has fallen to its lowest level in nearly one month's time.
Shares of SanDisk Corp. (SNDK) are weighing on the sector, posting a loss of 1.2 percent. The drop has the stock poised for its lowest close in nearly three months.
On the other hand, airline and banking stocks are continuing to show strength on the day. The NYSE Arca Airline Index and the Kbw Bank Index are up by 2.8 percent and 1.8 percent, respectively.
Commercial real estate and brokerage stocks are also on the rise, moderating weakness visible in other market segments.
In Focus: ISM - Chicago Data
As mentioned above, the ISM - Chicago said that its index of activity in the manufacturing sector rose to 56.1 in November from 54.2 in October, with a reading above 50 indicating growth in the sector. The increase by the index surprised economists, who had expected the index to slip to 53.3.
Commenting on the data, Peter Boockvar, equity strategist for Miller Tabak, said, "Today's better number follows also an upside surprise in October, but the stock market didn't respond then as it waited for the national ISM report to reconcile the regional surveys."
"The Chicago PMI though does confirm that manufacturing will be a key part of the hoped for recovery as consumer spending still remains uncertain," Boockvar added.
Other Markets
In overseas trading, stocks markets across the Asia-Pacific region ended sharply higher on Monday, regaining some ground after Friday's pullback. Japan's benchmark Nikkei 225 Index advanced by 2.9 percent, while Hong Kong's Hang Seng Index rose by 3.3 percent.
Meanwhile, the major European markets ended the day notably lower, with the U.K.'s FTSE 100 Index, the French CAC 40 Index and the German DAX Index all closing down by 1.1 percent.
In the bond markets, treasuries have turned modestly higher. Subsequently, the benchmark ten-year note, which moves opposite of its price, is trading at 3.209 percent, a loss of 2.2 basis points.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.