The S&P 500 and Nasdaq started out the week on the right foot, each surging to new intraday highs and record closes thanks to a pop in key technology shares. Meanwhile, the Dow traded sideways for most of the session, ultimately finishing 56 points lower as investors monitored the impact of Hurricane Ida in Louisiana. Wall Street is also keeping an eye inflation after last week's Jackson Hole symposium, where Federal Reserve Chairman Jerome Powell signaled bond tapering could start before 2022.

The Dow Jones Average (DJI - 35,399.84) lost 56 points or 0.2% for the day. Of the 30 Dow components, Apple (AAPL) led the charge, rising 3%. On the other end, American Express (AXP) paced the laggards, losing 2.6%.

The S&P 500 Index (SPX - 4,528.79) gained 19.4 points or 0.4% for the day. Meanwhile, the Nasdaq Composite (IXIC - 15,265.89) added 136.4 points, or 0.9% for the day.

Lastly, the Cboe Volatility Index (VIX - 16.19) shed 0.2 points or 1.2% for the day.

OIL MOVES HIGHER AS HURRICANE IDA WEAKENS 

Oil prices rose to kick off the week, clinging to earlier gains as Hurricane Ida weakened. The storm forced production shutdowns in the Gulf of Mexico, while the Organization of the Petroleum Exporting Countries and its allies (OPEC+) mulled over potential output increases. In response, October-dated crude tacked on 47 cents, or 0.7%, to settle at $69.21 per barrel.

Gold prices cooled off, on the other hand, though the safe-haven commodity was still able to hold out above the psychologically relevant $1,800 level. Pressuring the precious metal was a strengthening U.S. dollar strengthened. In turn, December-dated gold shed $7.30, or 0.4%, to settle at $1,812.20 an ounce.