Stocks trimmed their gains on Monday afternoon, as a revenue warning from NVIDIA (NVDA) dragged tech stocks lower. Both the S&P 500 and Nasdaq settled comfortably in the red, while the Dow erased most of its triple-digit gains to finish just above breakeven. The renewable energy sector enjoyed tailwinds from a $430 billion climate change bill that is headed for the U.S. House of Representatives, while the New York Federal Reserve's survey for July showed a massive drop in inflation expectations.

The Dow Jones Average (DJI - 32,832.54) added 29.1 points or 0.09% for the day. Walt Disney (DIS) led the gainers, adding 2.3%. JPMorgan Chase (JPM) paced the laggards, falling 1.2%.

The S&P 500 Index (SPX - 4,140.06) dipped 5.1 points, or 0.1% for the day. Meanwhile, the Nasdaq Composite (IXIC - 12,644.46) fell 13.1 points or 0.1% for the session.

Lastly, the Cboe Market Volatility Index (VIX - 21.29) rose 0.1 points or 0.7% for the day.

GOLD PRICES RECONQUER $1,800 AS U.S. DOLLAR COOLS

Oil prices were higher on Monday, as black gold worked to further distanced itself from its recent six-month lows. Traders were weighing demand for the commodity, following the July's New York Fed survey. September-dated crude added $1.75, or 2%, to settle at $90.76 per barrel for the day.

Gold prices settled higher as well, and reconquered the psychologically significant $1,800 level. A weaker U.S. dollar and cooling Treasury yields boosted the precious metal. In response, December-dated gold rose $14, or 0.8%, to close at $1,805.20 an ounce.

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