Tesla Eyes Record Highs, Bitcoin Tumbles To $86,000: What's Moving Markets Monday?

Wall Street traded little changed Monday after last Friday’s tech-led sell-off failed to trigger meaningful dip-buying interest.

By midday trading in New York, major indexes hovered near flat levels as investors stayed cautious ahead of a dense macro calendar this week.

Traders are focused on Tuesday's release of official October and November payroll data alongside October retail sales.

According to Fed futures, markets assign only a 24% probability to another 25-basis-point rate cut in January. Investors broadly price in two cuts next year.

Expectations for a near-term extension of the easing cycle cooled after Fed Chair Jerome Powell signaled last week that policymakers are in a wait-and-see phase following three consecutive cuts.

Rate-cut expectations have increasingly shifted further out. Traders now see easing more concentrated in the second half of 2026, as Powell's term ending in May could potentially open the door to a more dovish successor.

Tesla Inc. (NASDAQ:TSLA) led gains among mega-cap stocks. Shares climbed more than 4%, marking the 12th gain in the past 15 sessions and pushing prices near record highs last seen in December 2024.

The stock has surged roughly 20% over the past three weeks, driven by optimism around rising self-driving production and robotics initiatives. CEO Elon Musk said the company is testing robotaxis without front passenger safety monitors.

On the downside, ServiceNow Inc. (NASDAQ:NOW) plunged nearly 11% after KeyBanc downgraded the stock to Underweight, citing artificial intelligence disruption risks.

Zillow Group Inc. (NASDAQ:Z) (NASDAQ:ZG) also slid about 11% following reports that Alphabet Inc. (NASDAQ:GOOGL) is testing a new real estate advertising format.

In commodities, silver rebounded 2.2% to around $63 per ounce, hovering near last week's record levels and nearly erasing Friday's losses. Crypto markets weakened again.

Bitcoin (CRYPTO: BTC) fell more than 2% to near $86,000, while Ethereum (CRYPTO: ETH) slid below $3,000. Strategy Inc. (NASDAQ:MSTR) sank nearly 7%, heading toward its lowest close since early October, while Circle Internet Group Inc. (NYSE:CRCL) extended recent losses, down 8%.

Monday's Performance In Major U.S. Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) flattened at $625.96.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) moved 0.2% lower to $484.37.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) eased 0.2% to $612.18.
• The iShares Russell 2000 ETF (NYSE:IWM) fell 0.8% to $252.08.
• The Health Care Select Sector SPDR Fund (NYSE:XLV) outperformed, up 0.90%; the Energy Select Sector SPDR Fund (NYSE:XLE) lagged, down 1.3%.

Russell 1000’s Top 5 Gainers On Monday

Russell 1000’s Top 5 Losers On Monday

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