Oct 21 - The Dow Jones Industrial Average and S&P 500 closed lower on Monday, retreating from Friday's record high closes and six straight weekly gains as Treasury yields rose and investors wary of high valuations awaited earnings from major companies.
On Friday, the Dow and the S&P 500 both closed at record highs as all three major indexes posted a sixth consecutive week of gains, their longest winning streak this year.After a fairly upbeat start to earnings season, the focus was on the 114 S&P 500 companies scheduled to report this week. These include Tesla, Coca-Cola , and Texas Instruments .
"As the election date approaches, even small changes in tight polls could drive seemingly erratic swings in market sentiment," Danske Bank analysts said. Humana , slipped 2.46% after a report said Cigna , had resumed merger talks with the health insurer. Cigna's shares also fell 4.69%. The S&P 500 posted 42 new 52-week highs and two new lows while the Nasdaq Composite recorded 89 new highs and 51 new lows.
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