Stock market today: Live updates

The S&P 500 wavered on Monday as key stocks in the artificial intelligence trade continued to face pressure.

The broad market index traded along the flatline after beginning the session in positive territory. The Dow Jones Industrial Average slipped 11 points while the Nasdaq Composite was little changed.

Certain AI stocks bogged down the broader market during Monday’s session. Shares of Broadcom and Oracle declined more than 3% and more than 2%, respectively. Others like Microsoft also also suffered some losses.

Those moves came after the S&P 500 and Nasdaq fell last week, as those two stocks led a rotation away from AI. The S&P 500 lost 0.6% last week, while the Nasdaq shed 1.7%. The Dow, which is less exposed to tech and AI than the other two benchmarks, rose 1.1%.

Oracle plunged 12.7% for the week, while Broadcom shed more than 7%. The S&P 500 tech sector dropped 2.3%.

“The S&P 500’s Magnificent-7 might be less magnificent in 2026 as their fierce competition in the AI race starts to erode the monopolies they have enjoyed,” wrote Ed Yardeni, president of Yardeni Research. “The beneficiaries of that competition are likely to be the S&P 500’s Impressive 493.”

Economic data reports could set the tone for the market in the week ahead. November nonfarm payrolls figures are set for release Tuesday, along with October retail sales figures. These reports were delayed due to the U.S. government shutdown that took place in the fall.

Economists polled by FactSet are expecting the November nonfarm payroll data to show an increase of 40,000 on the month, which would mark a significant drop from the 119,000 jobs added in September.

The November consumer price index is due out later in the week on Thursday.