By Yasin Ebrahim

Investing.com – The S&P 500 ended slightly below the flatline Monday, as traders awaited additional catalysts after the broader market snapped its five-week win streak final week amid inflation issues.

The closed unchanged, at 0.0%, the fell 0.04%, or 13 factors, the Nasdaq fell 0.04%.

In an indication that investor sentiment stays skittish, utilities and shopper staples – defensive sectors of the market – led positive aspects to the upside.

Tyson Meals (NYSE:) was the most important advancer in shopper staples after reporting fiscal fourth-quarter outcomes that beat on each the highest and backside strains.

Power was larger, shrugging off decrease oil costs at the same time as the controversy intensified as as to whether the U.S. will launch oil from its strategic petroleum reserves to assist curb gasoline costs.

“Promoting strain remains to be being generated by the controversy in regards to the launch of strategic oil reserves within the US,” Commerzbank (DE:) mentioned in a word.

Kinder Morgan (NYSE:), Phillips 66 (NYSE:), Chevron (NYSE:) have been resulting in the upside in vitality sector, with the latter boosted by a by a UBS improve to purchase ranking from impartial amid expectations for larger oil costs.

Boeing (NYSE:) jumped greater than 5% on optimism that the plane making may quickly resume deliveries of its 787 Dreamliner, following manufacturing points.

Additionally serving to the inventory, China is reportedly near approving Boeing’s adjustments to its 737 MAX airplane.

Tesla (NASDAQ:) fell greater than 1%, dragging shopper discretionary shares decrease after chief government Elon Musk was concerned in a twitter spat with Democrat Senator Bernie Sanders.

In response to Sanders’ tweet that the “extraordinarily rich pay their fair proportion,” Musk mentioned, “Need me to promote extra inventory, Bernie? Simply say the phrase.”

Greenback Tree (NASDAQ:), nevertheless, stored losses in verify for the sector, rising greater than 14% after the Deutsche Financial institution upgraded the inventory to purchase and raised its value goal to $148 from $96 a share following information that Greenback tree activist investor had taken a greater than 5% stake within the retailer.

“We’re upgrading DLTR to Purchase from Maintain as we now see improved danger/reward via potential operational and profitability enhancements at Household Greenback given a larger sense of urgency with Mantle Ridge’s affect,” Deutsche Financial institution (DE:) mentioned in a word.

The patron discretionary sector will stay in focus this week as a number of retailers together with Walmart (NYSE:), HD, Lowe’s (NYSE:), and Goal (NYSE:) are among the many notable names set to report quarterly earnings.

Oatly (NASDAQ:) slumped greater than 20% after the oat milk maker warned that slower manufacturing within the U.S., inflationary pressures and contemporary pandemic-linked restrictions in Asia would dent full-year income.

WeWork (NYSE:) narrowed its losses within the third quarter of the yr at the same time as income fell. Its shares gained greater than 3%.

In Washington, Home Democrats are anticipated to go President Joe Biden’s $1.75 trillion social and local weather spending package deal, or Construct Again Higher Act, later this week.