Stocks Close Mixed But Nvidia Falls Into Correction Territory | Wall Street Today

U.S. stock indices were mixed, while Nvidia's stock falls into correction territory with an almost $400 billion plunge. Meanwhile, investors are awaiting May's personal consumption expenditure data and the Federal Reserve's preferred inflation gague this week.

The Dow advanced 0.67%. The S&P 500 traded down 0.31%, while the tech-heavy Nasdaq Composite declined 1.09%.

San Francisco Federal Reserve President Mary Daly sees more work for higher interest rates to do to reduce demand and control inflation in the U.S. economy. For now, interest rates aren't going anywhere, Daly said in remarks before the Commonwealth Club World Affairs of California on Monday.

However, Federal Reserve Bank of Chicago President Austan Goolsbee on Monday laid out a dovish case for considering potential cuts in interest rates in coming months.

Oil prices rose on Monday, extending gains from the past two weeks. Traders were watching developments in the Middle East and signs of increasing energy demand. Prices were recovering from a slump in early June when they hit their lowest point since February. West Texas Intermediate tops above $81 a barrel, rebounding from Friday's decline.