Good afternoon and welcome to Markets Desk.
Equities finished a mixed session Monday with the S&P five hundred shedding roughly a third of a percent and the Dow off seven tenths, as rising crude oil pushed bond yields higher and pressured rate-sensitive names. The Nasdaq managed to eke out a fractional gain, held up by tech.
Speaking of tech, Apple confirmed Tim Cook has stepped down as chief executive, closing out one of the most consequential leadership runs in corporate history. Cook took the helm from Steve Jobs in two thousand eleven and transformed Apple into the most valuable company on earth. Markets will be watching closely for any succession details and what they mean for the stock.
Meanwhile Tesla was among the S&P five hundred's top performers Monday as investors positioned ahead of what appears to be an imminent Cybercab launch. The autonomous vehicle, which ships without a steering wheel or pedals, has been a long-promised milestone for the company, and the market is beginning to price in that it may finally be close to reality.
That's the tape. Markets Desk, signing off the floor.
