Stocks end Monday little changed as investors look ahead to Powell speech, retail earnings: Live updates

The S&P 500 shed 0.01% to close at 6,449.15. The Dow Jones Industrial Average lost 34.30 points, or 0.08%, ending at 44,911.82. The tech-heavy Nasdaq Composite rose 0.03% to settle the session at 21,629.77.

— Pia Singh

Shares of social club network Soho House rallied more than 15% after announcing plans to go private.

Soho House said it will leave the public market as part of a $2.7 billion deal directed by MCR Hotels. Shareholders will get $9 per share, which reflects nearly 18% upside compared with where it ended last week.

With Monday's gains, Soho House shares have rallied more than 18% in 2025.

— Alex Harring, Reuters

The S&P 500 is on a "parallel path" to more gains, according to Citi.

At one end, according to Scott Chronert, U.S. equity strategist at the bank, there's mega-cap growth and artificial intelligence. On the other side, there's the rest of the market.

Now, investors are wondering which can catalyze the next leg higher. The answer could be a combination of both.

"Our view on this is mostly intuitive," Chronert wrote to clients. "Using the old 'it takes a village' analogy, the healthiest path to higher index levels is a combination of Growth/Tech leadership persisting but with other areas of the market additive more so than has been the case this past year."

Chronert also said that investors can expect upside to be driven by a smaller number of companies that detract from growth.

— Alex Harring

Check out some of the companies making the biggest moves midday:

• Meta Platforms — The parent of Instagram and Facebook is planning the fourth overhaul of its artificial intelligence operations in six months, The Information reported late Friday, according to Reuters. Meta fell nearly 3% Monday.
• Target — Evercore ISI added Target to its tactical outperform list, driving up shares in the big box retailer by 3%. The Wall Street firm said Target's earnings report later this week could be better than expected, resulting in a "relief rally" in the stock.
• Duolingo — The language education company popped 12% following an upgrade to overweight at KeyBanc Capital Markets, which cited new products and viral marketing efforts as potential catalysts. Citigroup also initiated research coverage of Duolingo with a buy rating.

For the full list, read here.

— Pia Singh

Shares of TeraWulf rallied more than 10% on Monday after Google upped its stake in the bitcoin miner and datacenter company to support its data center campus expansion in New York.

Google will offer up to $1.4 billion in additional backstop as part of the deal, putting its total at about $3.2 billion. The deal hikes Google's stake in TeraWulf to 14% from 8% and enables the company to buy about 32.5 million shares of the company's stock.

— Pia Singh, Samantha Subin

KeyBanc has turned bullish on Duolingo, upgrading shares to overweight from sector weight on Sunday. Its price target of $460 per share implies nearly 41% upside from Friday's close.

The digital education app has underperformed amid concerns its business is peaking and that artificial intelligence will contract its total addressable market, analyst Justin Patterson said in a note to clients.

"In our view, the AI backlash was a bump in the road, and a combination of product … and viral marketing efforts creates upside risk to estimates over the next 12 months," he wrote. "Further, price optimizations remain an untapped growth lever that could aid growth and profitability."

The stock was up nearly 5% in morning trading.

— Michelle Fox

Shortly after 9:30 a.m. ET on Friday, the S&P 500 and tech-heavy Nasdaq Composite hovered near the flatline. The Dow Jones Industrial Average dropped 54 points, or 0.1%.

— Pia Singh

Crypto tumbled to begin the week as heightened macro concerns triggered more than $500 million in forced selling of long positions.

The price of bitcoin was last lower by 2% at $115,255.70, after touching a new all-time high last week – its fourth one this year – at $124,496. At one point, it fell as low as $114,706. Ether slid 4% to $4,283.15 after coming within spitting distance of its roughly $4,800 record last week.

Crypto related stocks were under pressure premarket, led by ether treasury stocks. Bitmine Immersion was down 6% and SharpLink Gaming fell 3%. Crypto exchange Bullish, which made its public trading debut last week, was also lower by 3%.

— Tanaya Macheel

Shares of Novo Nordisk rose more than 4% in the premarket after the Food and Drug Administration approved the use of the company's Wegovy drug to treat metabolic dysfunction-associated steatohepatitis, or "MASH," in adults with moderate-to-advanced liver fibrosis.

 "MASH represents a significant health burden, with one in three people with overweight or obesity worldwide affected. In the US alone, around 22 million people are estimated to live with MASH. With the approval of Wegovy for MASH, we provide a new treatment to people living with MASH that not only halts the disease activity but helps reverse the damage caused to the liver," Novo Nordisk chief science officer Holst Lange said in a statement.

— Fred Imbert

Asia-Pacific markets mostly rose Monday as investors awaited talks between U.S. President Donald Trump and his Ukrainian counterpart, Volodymyr Zelenskyy.

The U.S.-Russia summit on ending the conflict between Kyiv and Moscow concluded without a ceasefire deal on Friday.

Japan's Nikkei 225 benchmark climbed 0.77% to end the day at an all-time high of 43,714.31, with gains led by the consumer cyclicals, healthcare and industrials sectors.

The best-performing stocks were Suzuki Motor Corp, which surged 10.2%, Isetan Mitsukoshi Holdings, which advanced 7.79% and CyberAgent Inc, which added 7.67%, according to LSEG data.

Meanwhile, Japan's broader Topix index closed 0.43% higher at 3,120.96.

In South Korea, the Kospi index reversed course from gains in the previous two sessions and ended the day 1.5% lower at 3,177.28, while the small-cap Kosdaq declined by 2.11% 798.05.

Mainland China's CSI 300 rose 0.88% to end the day at 4,239.41, its highest level since October 2024, while Hong Kong's Hang Seng Index fell 0.37% to 25,176.85.

Meanwhile, Taiwan's Taiex index added 0.61% to end the day at 24,482.52, topping its previous record close in July 2024.

Over in India, the benchmark Nifty 50 advanced 1.21%, while the BSE Sensex index added 1.06% as of 1:40 p.m. Indian Standard Time (4:10 a.m. ET).

The moves come as the country is set to slash its goods and services tax on small petrol and diesel cars to 18% from 28%, Reuters reported, citing sources familiar with the matter.

Australia's S&P/ASX 200 pared earlier gains to end the day 0.23% higher at 8,959.39, after briefly hitting an intra-day high.

— Amala Balakrishner

The three major indexes are coming off back-to-back winning weeks. Here's how the averages performed last week:

• The Dow gained 1.7%
• The S&P 500 added 0.9%
• The Nasdaq Composite rose 0.8%

— Alex Harring

Futures tied to the Dow, S&P 500 and Nasdaq 100 were all little changed shortly after 6 p.m. ET.

— Alex Harring