On US stock markets, AI companies were the main winners. Most other companies declined.

Monday's session in the US stock markets followed a similar pattern to some of the previous week. Demand focused on shares of a relatively small group of the most heavily weighted technology companies, which allowed the major indices to rise, while the vast majority of other stocks declined.

Demand was primarily focused on artificial intelligence stocks, fueled by Amazon.com's announcement of a $38 billion deal with OpenAI to provide it with Amazon Web Services cloud infrastructure. Jeff Bezos' company closed the session with a record closing price, rising 14% over two days, a feat last seen three years ago. Meanwhile, Nvidia shares surged after Microsoft announced it had obtained a license to export over 60,000 of its chips to the United Arab Emirates and signed a $9.7 billion contract with Australia's IREN for Nvidia GB300 processors.

Shares of other AI-related blue-chip tech companies, Palantir Technologies (3.35%) and AMD (1.4%), surged ahead of their quarterly earnings releases. Investors can expect to be disappointed. So far, of the more than 300 S&P 500 companies that have reported earnings for the past three months, 83% have exceeded market expectations.

The biggest drop in the S&P 500 was recorded by Kimberly-Clark Corp. (-14.6%), which was related to the announcement of its acquisition of Kenvue for almost USD 50 billion in a transaction financed with shares and cash.

US bond yields rose, and the dollar strengthened. Data released on Monday on US industrial activity in October proved worse than expected, and the CME FedWatch Tool showed a slightly higher probability of a rate cut in December. Statements from Fed officials were divergent. Stephen Miran, Donald Trump's henchman on the central bank's board, naturally advocated for rate cuts, while Chicago Fed President Austan Goolsbee sounded cautious, pointing to inflation continuing to remain above the central bank's target.

The value of 63% of S&P 500 companies fell. The S&P 500 Equal Weighted closed down 0.3%. Supply prevailed in seven of the 11 main segments of the main index. Materials (-0.6%), consumer discretionary (-0.5%), and financial (-0.4%) companies saw the sharpest declines. Consumer discretionary (1.7%), IT (0.4%), and healthcare (0.1%) companies were the best performers.

In the Dow Jones Industrial Average, 22 of the 30 companies fell. The biggest decliners were pharmaceutical company Merck & Co. (-4.0%), athletic shoe manufacturer Nike (-3.0%), and a wide range of tech and office products supplier 3M Co. (-2.6%). The best-performing technology companies were Amazon.com (4.0%), Nvidia (2.2%), and Cisco Systems (1.8%).

In the Nasdaq Composite, 61% of 3,300 companies fell. A similar percentage fell in the narrower Nasdaq 100. However, most of the "Magnificent Seven" gained, with the exception of Amazon.com (4.0%) and Nvidia (2.2%), Tesla (2.6%) seeing the strongest gains. Deutsche Bank raised its target price, citing expected better results and the expansion of its robotaxi business.