Despite a valiant attempt to extend Friday's bounce, the Dow slipped below breakeven this afternoon to log a 112-point drop. The S&P 500 inched into the red by the end of the day as well, while the Nasdaq managed to finish with gains, though it was far off its session highs. While the easing one-year inflation outlook injected optimism into the markets and encouraged investors to buy up battered tech stocks, consumer credit data for November showed individuals borrowed more than economists anticipated.

OIL SCORES 3 STRAIGHT, GOLD SETTLES AT MULTI-MONTH HIGHS

Oil prices settled firmly higher for a third consecutive session on Monday, as the prospects of consumer demand in China improve as the country eases Covid-19 restrictions. February-dated crude added 86 cents, or 1.2%, to settle at $74.63 per barrel.

Gold prices also finished higher, scoring their best settlement since May as last week's U.S. jobs reports continued to generate tailwinds. February-dated gold added $8.10, or 0.4%, to settle at $1,877.80 per ounce.

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