Nasdaq underperforms on future tech profits concerns

Nasdaq trailed the S&P 500 and the Dow on Monday and finished down under pressure from key mega caps as investors awaited Microsoft's earnings and Tesla shares plummeted on worries about its spending plans, according to Reuters.

Tesla fell after it raised its 2023 capital expenditure forecast to ramp up output, weighing down consumer discretionary stocks.

According to initial data, the Nasdaq Composite (.IXIC) dropped 33.89 points, or 0.28 per cent, to 12,038.56 while the S&P 500 (.SPX) gained 3.74 points, or 0.09 per cent, to conclude at 4,137.13 points.

To reach 33,878.36, the Dow Jones Industrial Average (.DJI) increased by 69.40 points, or 0.21 per cent.