U.S. stocks traded in a range Monday, after five straight weeks of gains, as investors eyed oil and housing data in the holiday-shortened week.
The major averages tried to reclaim opening losses to hold mostly higher, with telecommunications leading S&P 500 advancers and Boeing the top contributor to gains in the Dow Jones industrial average.
Citigroup traded more than 1 percent higher. KBW said in a Sunday note the firm “could be one of the only U.S. (global systematically important banks) that could successfully split up,” a move that “should unlock meaningful shareholder value—50+% returns versus the current market capitalization.”
The Nasdaq composite outperformed in morning trade, as Apple gained more than half a percent and the iShares Nasdaq Biotechnology ETF (IBB) rose 1.5 percent.
U.S. crude oil futures for April delivery attempted to hold higher above $39.50 a barrel. After the settle, the contract rolls to May, which was above $41 in morning trade.
12:40 p.m.: Atlanta Fed President Dennis Lockhart speaks on the economic outlook and monetary policy.
8:30 p.m.: St. Louis Fed President James Bullard speaks on economic inequality