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The S&P 500 fell on Monday, December 15
As pressure continued on shares of major artificial intelligence companies, while traders awaited a series of US economic data releases this week.
The overall market index declined by 0.2%. The Dow Jones Industrial Average fell 48 points, or 0.2%, while the Nasdaq Composite dropped 0.5%.
Some AI stocks weighed on the overall market performance during Monday's trading session. Shares of Broadcom and Oracle both fell by more than 4%. Other companies, such as Microsoft, also suffered losses.
The Dow Jones Industrial Average rose 168 points, or 0.4%. The S&P 500 gained 0.5%, while the Nasdaq Composite advanced 0.6%.
These moves come after the S&P 500 and Nasdaq Composite indexes declined last week, as Oracle and Broadcom led a shift away from artificial intelligence. The S&P 500 lost 0.6% last week, while the Nasdaq fell 1.7%. The Dow Jones Industrial Average, less affected by the technology and AI sectors than the other two, rose 1.1%.
Oracle shares fell 12.7% during the week, while Broadcom shares declined more than 7%. The technology sector of the S&P 500 fell 2.3%.
Ed Yardeni, president of Yardeni Research, wrote: “The top seven companies in the S&P 500 may not be as dominant in 2026 as the fierce competition in the AI race begins to erode their monopolies. The 493 most influential companies in the S&P 500 are likely to benefit from this competition.”
Economic reports could set the market’s direction next week. The November nonfarm payrolls report is due on Tuesday, along with October retail sales data. These reports were delayed due to the U.S. government shutdown in the fall.
Economists surveyed by FactSet expect the November nonfarm payrolls report to show an increase of 40,000 jobs compared to the previous month, a significant drop from the 119,000 jobs added in September.
The November consumer price index is due later in the week, on Thursday.
