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Market Pulse: S&P 500 and Nasdaq Composite succumb to selling pressure to end lower Monday as Dow ends flat

U.S. stocks closed lower Monday after the S&P 500, Dow industrials and Nasdaq Composite waffled between small gains and losses throughout the session until ultimately succumbing to selling pressure.

Declines in communication services SP500.50, -2.24%, down 2.2%, and information technology SP500.45, -0.66%, off 0.7%, led the session’s declines, while energy SP500.10, +1.31%, up 1.3%, led gainers, extending what has been a stellar run for oil and gas producers, up 26% so far in 2022.

The Dow Jones Industrial Average DJIA, +0.00% finished Monday trade 1.39 points higher at roughly 35,091.
The S&P 500 index SPX, -0.37% closed down 0.5% lower to around 4,484.
The Nasdaq Composite Index COMP, -0.58% ended the day off 0.6% to about 14,016.

In corporate news, shares of Peloton Interactive Inc. PTON, +20.93% finished the session up 21% amid speculation about suitors for the exercise-equipment company.

Meanwhile, Spirit Airlines SAVE, +17.17%  rose over 17% on Monday after it said it was merging with Frontier Group ULCC, +3.47%.

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