Markets: News  

The stock market had a mixed showing today following Friday's sell-off. The major indices settled flat after pulling back from their highs of the day, following the trend of the mega cap stocks. The Russell 2000 was relatively weak, falling 0.7%. The lack of conviction was driven by some hesitation ahead of the FOMC meeting on Wednesday. The market is not expecting a rate hike and will be more focused on the updated Summary of Economic Projections and dot plot, as well as the tone that Fed Chair Powell takes at his press conference.Apple (AAPL 177.97, +2.96, +1.7%) was a source of support for the major indices after reacting favorably to comments from analysts. The stock had been up as much as 2.5% at its high of the day, but drifted lower with the broader market. Nonetheless, the gain in Apple helped to drive the outperformance of the S&P 500 information technology sector (+0.5%).The energy sector (+0.7%) was another standout performer despite oil prices settling slightly lower. WTI crude oil futures fell 0.5% to $90.53/bbl. Meanwhile, the consumer discretionary sector (-1.0%) fell to the bottom of the pack. It was the only sector to move more than 1.0% in either direction.  Ford (F 12.34, -0.27, -2.1%), General Motors (GM 33.34, -0.61, -1.8%), and Stellantis (STLA 18.94, -0.31, -1.6%) were standout laggards today after the UAW rejected a Stellantis offer to increase pay by nearly 21% over the contract term, with a 10% immediate increase.The 2-yr note yield and 10-yr note yield settled unchanged from Friday at 5.04% and 4.32%, respectively.This morning's economic data was limited to the NAHB Housing Market Index, which dropped to 45 in September (Briefing.com consensus 50) from 50 in August.Looking ahead, Tuesday's calendar includes the August Housing Starts and Building Permits report at 8:30 a.m. ET.Nasdaq Composite: +31.0% YTDS&P 500: +16.0% YTDS&P Midcap 400: +5.5% YTDRussell 2000: +4.2% YTDDow Jones Industrial Average: +4.5% YTD