US stocks mixed at close following choppy trading

The S&P500 index was near an all-time high, but the indices ultimately retreated

Stocks in the US ended mixed on Monday following a day of choppy trading. The S&P500 ended lower after being slightly higher for much of the day. The Dow Jones Industrial Average (DJIA) dropped 97.31 points while the Nasdaq gained.

Stocks initially cheered the announcement on Sunday by US senators of around $1 trillion in proposed infrastructure stimulus. That helped push the S&P500 index to a near all-time high on Monday morning, but the indices ultimately retreated.

Asian stocks were steady early Tuesday after U.S. equities turned lower and Treasury yields retreated on concerns that the economic recovery from the pandemic is losing momentum, reported Bloomberg. Equities were lower in Japan and Australia, while they gained in South Korea.

In India, indices started the week on a higher note with Sensex ending at 52,950.63, up 363.79, or 0.69%, and the Nifty at 15,885.15, up 122.10 points or 0.77% on Monday. The realty sector outperformed whereas IT, auto and PSU banks were top gainers.

The SGX Nifty indicates a flat opening for the Indian stock markets today. Singapore Nifty (SGX Nifty) is the Indian Nifty that is traded in Singapore Stock Exchange and is considered to be the first indication of the Indian markets opening.

Adani Enterprise, Adani Ports, Bharti Airtel, Dabur, Bank of India are among the companies scheduled to announce their earnings on Tuesday.

In energy markets, oil steadied above $71 a barrel as investors weighed the risk to consumption posed by the spread of the delta coronavirus variant. West Texas Intermediate (WTI) added 0.4% after slumping 3.6% Monday, the biggest loss in two weeks.

The prices tumbled Monday on weak manufacturing data from China, while global growth worries also weighed on US equities even as Asian and European bourses advanced.