Stocks were mostly positive on Monday, but the Dow was weighed down by Nvidia (NVDA) and Nike (NKE). Still, the S&P 500 and the Nasdaq were boosted by Netflix (NFLX) and Tesla (TSLA) as well as an upbeat reading for a widely watched homebuilder survey. Looking ahead, Nvidia's earnings report is the highlight of the week, though investors continue the uneven process of pricing in a second Trump administration.
The NAHB/Wells Fargo National Housing Market Index (HMI) printed at 46.0 for November, up from 43.0 in October and better than the 44.5 consensus forecast compiled by FactSet. Still, the HMI remains in contraction territory. But, as Raymond James Chief Economist Eugenio J. Alemán notes, it's up seven points compared to 39.0 in August.
