Wall Street was mostly flat on Monday, as investors remained cautious after last Friday’s tech-driven sell-off failed to spark much buying interest. The major U.S. stock indexes hovered near unchanged levels by midday as traders waited for key economic data due later in the week.

Markets are keeping a close eye on Tuesday’s upcoming reports, which include official payroll numbers for October and November, as well as retail sales data for October. These releases could offer clues about the strength of the economy and the Federal Reserve’s next moves.

As of now, futures markets suggest there’s only a 24% chance that the Fed will cut interest rates by 25 basis points in January. Most investors expect two rate cuts in 2025, not earlier. Hopes for a near-term rate cut cooled after Fed Chair Jerome Powell said the central bank is now taking a “wait-and-see” approach following three consecutive cuts.

Expectations for lower interest rates have shifted further out into the future, with traders now predicting most cuts will happen in the second half of 2026. That’s when Powell’s term ends, possibly paving the way for a more dovish replacement.

Among big-name stocks, Tesla led the charge on Monday, jumping more than 4%. This marked its 12th gain in the past 15 trading days, bringing it close to its December 2024 highs. The stock has surged around 20% in the last three weeks, driven by excitement around self-driving car technology and robotics. CEO Elon Musk recently revealed that Tesla is testing autonomous vehicles without front-seat safety monitors.

On the flip side, ServiceNow took a hit, plunging nearly 11% after KeyBanc downgraded the stock to “Underweight” due to concerns over how artificial intelligence may disrupt its business model. Zillow also dropped about 11% after reports emerged that Google is testing a new way to advertise real estate listings, which could pose fresh competition.

In commodities, silver bounced back 2.2% to around $63 per ounce, erasing most of its losses from Friday and staying close to record highs.

Cryptocurrencies had another rough session. Bitcoin fell over 2%, hovering near $86,000, while Ethereum dipped below $3,000. Strategy Inc., a company heavily tied to crypto markets, dropped nearly 7%, and Circle Internet Group lost 8%, continuing its recent downtrend.

Here’s how major U.S. indexes and ETFs performed on Monday:

– Vanguard S&P 500 ETF (VOO): Flat at $625.96
– SPDR Dow Jones Industrial Average ETF (DIA): Down 0.2% to $484.37
– Invesco QQQ Trust (QQQ): Down 0.2% to $612.18
– iShares Russell 2000 ETF (IWM): Down 0.8% to $252.08
– Health Care Select Sector SPDR Fund (XLV): Up 0.90%
– Energy Select Sector SPDR Fund (XLE): Down 1.3%

Top Movers in the Russell 1000 Index:

Biggest Gainers:
– Gartner Inc. rose 4.59%
– Wayfair Inc. added 4.48%
– Lumentum Holdings climbed 3.56%
– Doximity Inc. gained 3.84%
– Tesla Inc. increased by 3.72%

Biggest Decliners:
– ServiceNow Inc. fell 10.9%
– Zillow Group Inc. dropped over 9%
– Strategy Inc. declined nearly 7%
– CoStar Group fell 6.9%
– Lyft Inc. lost more than 7%

Investors are bracing for a busy week with plenty of data that could steer the market’s next move. For now, cautious sentiment remains in place as traders wait for more clarity on interest rates and economic growth going into the new year.