U.S. Stock benchmarks turned south late Monday morning as a downturn in technology and healthcare products weighed on the broader market.
The day's early advance was supported by a series of deals, notably a $ 26 billion offer to Sprint Corp. -Mobile US Inc., which helped to strengthen the shopping pleasure on Wall Street.
What are the main benchmarks?
The Dow Jones Industrial Average
DJIA, + 0.01%
surged 12 points or 0.1% to 24,325, with McDonald's shares contributing about 60 points to this increase. The S & P 500 Index
fell 8 points, or 0.3%, to 2.62, with health, technology, industrial, and materials use down 0.2%, which weighed on the broad market index.
The technology-laden Nasdaq Composite Index
however, decidedly negative and slipped by 39 points or 0.6% to 7,080. The index was up 0.7% at its intraday high of 7,169.80. A downturn in the biotech sector as measured by iShares Nasdaq Biotechnology ETF
by more than 1% and primarily a decline at Celgene Corp.
put the tech sector under pressure.
On Friday, the Dow S & P 500 and Nasdaq Composite have changed little in the session and are in the red for the week.
The Dow is on course for a monthly increase of 1.1% on Friday's loss since the beginning of the year to 1.4%. The S & P rose 0.9% in April and 0.3% in 2018 and the technical data-laden Nasdaq returned 0.4% this month, up 2.6%. since the beginning of the year.
What drives the markets?
April's earnings came when more than half of S & P 500 companies released first-quarter results, with 79% of those names exceeding Wall Street expectations based on FactSet data.
But strategists say the market's progress has been limited by other factors, including concerns about protectionism and geopolitics, as well as concerns that the days of synchronized global economic growth are over.
The prospect of a trade war between the US and China is one of those worried traders likely to watch US Treasury Secretary Steven Mnuchin visit China this week for high-level trade talks.
Investors are also tracking the 10-year Treasury yield
which climbed above 3% for the first time since 2014, but then fell back below this psychologically important level. A jump up for this benchmark rate will result in riskier assets such as stocks being pulled off money.
What do the strategists say?
People are so enthusiastic and the news over the weekend was relatively decent … the question is: is that sustainable? "And that's hard to say, and we're probably in a bumpy week," said Colin Cieszynski, senior market strategist at SIA Wealth Management, referring to data coming in reports including the Friday's employment report and an update from the Federal Reserve on Wednesday.  "I think these important developments have been very encouraging for the markets. I see things like deal flow as a sign that management is confident, "he said.
Maris Ogg, president of Tower Bridge Advisors, said," This is the same thing as improving business confidence. They are people who realize that the 24/7 rule typewriter has stopped, and they will do things they could not do [a few years ago].
Read More: Why Investors May the Month – Especially This Year
What Stocks Are in Focus?
Sprint Corp. Shares
fell 15% after news Sunday that the mobile operator plans to merge with rivals T-Mobile US Inc.
TMUS, – 7.21%
T-Mobile's share price fell 7.1%. The two companies have made an all-stock bid of $ 26 billion, which, if allowed by the antitrust authorities, dominates the US mobile marketplace by three national players. It is the third time in recent years that the two rivals have tried the combination.
Check out: Why a T-Mobile Sprint Fusion to Consumers & # 39; Devastating & # 39;
In other deal news, Walmart Inc. shares
WMT, + 1.60%
rose 1.8% after the UK arm of the retail giant, ASDA Group Ltd., had agreed to merge with British supermarket chain J Sainsbury PLC
SBRY, + 14.53%
The combined company had annual sales of approximately $ 69 billion.
Marathon Petroleum Corp.
MRO, + 0.47%
has confirmed that it plans to purchase competing refinery Andeavor
ANDV, + 13.78%
in a deal worth more than $ 20 billion. Andevor's shares climbed 14%, while those of Marathon rose 0.6%.
Timeshare Company Marriott Vacations Worldwide Corp.
claimed to have received $ 4.7 billion to acquire Peer ILG Inc.
ILG, + 4.92%
Shares in Marriott Vacations declined 9.4% while ILG's shares increased more than 4.9%.
Logistics Company Prologis Inc.
has agreed to buy competitors DCT Industrial Trust Inc.
DCT, + 11.27%  for $ 8.4 billion, including debt, as an increase in e-commerce increases demand for warehouses and distribution centers. The DCT stock climbed 11%, while Prologis fell 3%.
Shares in the Burger Chain McDonald's Corp.
MCD, + 5.04%
increased 5.1% after the expected earnings and revenue for the first quarter
Metals companies Arconic Inc. & # 39; s
The stock fell 1% after the metal company cut its outlook, but posted results that outperformed its projections.
US listed shares of WPP PLC
WPP, + 8.58%
WPP, + 8.62%
jumped 8.6% After the gold rush exceeded the first quarter expectations, in the first earnings report after the departure of Martin Sorrell as managing director.
AK Steel Holding Corp.
saw a 5.7% decline in equities following the announcement of first quarter results, with returns better than expected. The mining company also offered an optimistic outlook, saying that it expects market conditions to improve.
Which data are the focus?
The PCE index, the Federal Reserve's preferred indicator of inflation, rose from 1.7% in February to 2% a year, reaching its target for the first time in a year.
Inflation figures are included in the government's monthly consumer report. Expenditure rose 0.4% last month, the first advance since the end of 2017.
A manufacturing report in Chicago, Chicago PMI, for April was 57.6, compared to consensus estimates for 58. A reading of 50 or better indicates that conditions are improving.
Meanwhile, the National Association of Realtors' Pending Home Sales Index rose 0.4% to 107.6 in March, after being revised in February.
Check out: MarketWatch's Economic Calendar
No speeches are planned at the Federal Reserve. Central Bank monetary policy makers are expected to begin a two-day meeting on Tuesday, and Wednesday is expected to keep interest rates on hold and will not signal a change in the tightening path of two further rate hikes in 2018.
See: Why the Fed could make 4 interest rate hikes this year
What are other markets
SXXP, + 0.18%
closed predominantly higher, while Asian markets closed with gains.
were lower at midday in oil futures
CLM8, + 0.40%
became higher during the ICE US Dollar Index
DXY, + 0.27%
advanced and put it in for the best month since February 2017.