Nvidia Earnings Loom Large as Stocks and Bonds Face Crucial Week

US stocks experienced a mixed finish on Monday as investors looked ahead to several market-moving events scheduled for later in the week.

The S&P 500 slipped 0.3% and retreated from its all-time high set earlier this month, while the Dow Jones Industrial Average rose 140 points or 0.3%, and the Nasdaq composite fell 0.8%.

Tech stocks were led downward by Nvidia, which sank 2.9% after delivering big swings through the summer on worries about the AI boom's sustainability. Other heavyweights like Micron Technology and Broadcom also contributed to the decline.

The bond market showed some relief as longer-term Treasury yields eased to 4.70%, following last week's surprise move by the US Treasury Department to increase planned buybacks of Treasurys. However, analysts warn that this may have a limited effect on containing the rise in yields due to the small size of the buybacks and the ongoing fundamental problems of high debt for the US government.

Oil prices also played a role in the market's performance, with Brent crude falling 2.3% to $90.54 per barrel after the US announced new sanctions against Iran.