U.S. stocks settled lower on Monday as the Dow Jones Industrial Average dipped more than 300 points amid rising oil prices, while the CNN Money Fear and Greed index remained in the "Fear" zone. The market decline reflected widespread weakness, with major benchmarks recording losses last week, including a 1.6% drop in the S&P 500 and a 2.9% decline in the Nasdaq. The Dow also declined 0.9% for the week.

Index Performance

The Dow Jones closed lower by around 307 points to 51,839.26 on Monday. The S&P 500 fell 0.19% to 7,443.28, while the Nasdaq Composite declined 0.05% to 25,508.07 during the session.

Market Sentiment and Outlook

At a current reading of 37.6, the Fear & Greed Index remained in the "Fear" zone on Monday. The index is calculated based on seven equal-weighted indicators, ranging from 0 to 100, where 0 represents maximum fear and 100 signals maximum greed. Markets are pricing in one Fed rate hike this year, with odds of a September move holding above 60% ahead of next week’s FOMC meeting.

Sector Performance

Most sectors on the S&P 500 closed on a negative note, with health care, materials, and industrials stocks recording the biggest losses. However, communication services and energy stocks bucked the overall market trend, closing the session higher.

Market Movers

IREN Ltd soared around 20% after signing $2.8 billion in new multi-year AI Cloud contracts with customers including Microsoft, Nvidia, and Perplexity, prompting the company to lift its year-end AI cloud annual recurring revenue target above $4 billion. On the earnings front, Ryanair Holdings PLC fell more than 5% following weak first-quarter results, while Domino’s Pizza Inc stock rose over 2% after reporting second-quarter revenue that topped Wall Street estimates, although earnings per share missed expectations. Investors are awaiting earnings results from General Motors Co, 3M Co, and Northrop Grumman Corp.

U.S. stocks traded mixed midway through trading on Monday, with the Dow Jones Industrial Average falling over 100 points as market sentiment fluctuated. The Dow traded down 0.21% to 52,036.64, while the Nasdaq climbed 0.79% to 25,720.74. The S&P 500 also rose, gaining 0.40% to 7,487.38. Sector performance was varied, with communication services shares jumping by 1.7% and financial stocks falling by 0.4%.

Market Movers

Shares of Ryanair Holdings PLC (NASDAQ: RYAAY) fell more than 5% on Monday following weak first-quarter results. The company reported quarterly earnings of $1.19 per share, missing the analyst consensus estimate of $1.35 per share. Quarterly sales of $5.097 billion also missed the analyst consensus estimate of $5.210 billion.

IREN Ltd (NASDAQ: IREN) shares shot up 16% to $38.93 after the company announced it raised its year-end AI Cloud annualized run-rate revenue target. AMC Entertainment Holdings Inc (NYSE: AMC) surged 12% to $2.16 after reporting better-than-expected second-quarter financial results. Advanced Biomed Inc (NASDAQ: ADVB) gained 70% to $8.57 after announcing it delivered its notice to terminate its purchase agreement with Helena Global Investment Opportunities.

Decliners and Commodities

QumulusAI Inc (NASDAQ: QMLS) shares dropped 20% to $11.50 following the purchase of 1,632 NVIDIA Blackwell B300 GPUs. Globavend Holdings Ltd (NASDAQ: GVH) fell 62% to $1.83, and VCI Global Ltd (NASDAQ: VCIG) declined 20% to $0.73. In commodities, oil traded down 0.2% to $82.34, gold traded down 0.2% at $4,010.70, silver traded up 1.3% to $57.035, and copper rose 1.3% to $6.3485.

Global Markets

European shares were lower, with the STOXX 600 declining 0.4%. London’s FTSE 100 fell 0.7%, Germany’s DAX declined 0.3%, and France’s CAC 40 slipped 0.2%. Asian markets closed mixed, with Hong Kong’s Hang Seng gaining 2.36%, China’s Shanghai Composite rising 0.85%, and India’s BSE Sensex falling 0.57%.