The Nasdaq retreated from a record high by afternoon trading on Monday as worries over fiscal stimulus overshadowed optimism about the start of a week of earnings from mega-cap technology companies. Investors turned their focus to the U.S. Senate, which is aiming to pass COVID-19 relief legislation before former President Donald Trump's impeachment trial begins in early February. This comes a day after officials in President Joe Biden's administration tried to head off Republican concerns that his $1.9 trillion pandemic relief proposal was too expensive.
U.S. stock markets closed mostly lower on Friday as concerns mounted over COVID-19
U.S. manufacturing activity surprisingly surged to its highest level in more than 13-1/2 years in early January.