Markets

Here's what happened to the stock market on Monday

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CNBC Markets Now: August 17, 2020

Dow Jones Industrial Average falls 86 points, but S&P rises

The Dow fell 86.11 points, or 0.31%, to 27,844.91. The S&P 500 rose 0.3% to close at 3381.99. The Nasdaq Composite outperformed, rising 1% to 11,129.73. Wall Street kicked off the week with a muted performance as the S&P 500 struggled once again to reach its Febrry record.

Short of a record once again

The S&P 500 made another run at its Feb. 19 record on Monday, but fell short once more. "The S&P 500 is overbought into key resistance and up against seasonal headwinds," said one analyst. should the market "consolidate from here, we'll be monitoring for an accumulation of cyclical equities to confirm what we expect to be a breakout to a new high." These struggles come amid a stalemate among lawmakers over a new coronavirus stimulus package.

Barrick Gold jumps and tech leads

Shares of Barrick Gold rose 12% after Warren Buffett's Berkshire Hathaway disclosed a take in the gold miner. The move higher in Barrick lifted other miners such as Newmont and Freeport-McMoran. Tech shares such as Amazon, Alphabet and Microsoft advanced at least 0.6% each.

What happens next?

Home Depot and Walmart are among the companies set to report earnings on Tuesday.

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