04:38 PM EDT, 03/31/2025 (MT Newswires) -- US benchmark equity indexes were lacking direction on Monday as investors await announcement of the reciprocal tariffs this week.

The Nasdaq Composite fell 0.1% to 17,299.3, while the S&P 500 increased 0.6% to 5,611.9. The Dow Jones Industrial Average was up 1% to 42,001. Consumer discretionary was the only sector declining, while consumer staples posted the highest gains.

US Treasury yields were lower, with the 10-year rate losing about 4.2 basis points to 4.21% and the two-year rate down 2.1 basis points to 3.89%.

May West Texas Intermediate crude oil increased 2.8% to $71.32 a barrel on Monday.

President Donald Trump is expected to announce new tariffs on a number of imports on Wednesday, which he has called the "Liberation Day."

In economic news, the Chicago Business Barometer saw its third straight monthly increase in March, rising 2.1 points to 47.6, the highest since November.

The gains were driven by a rise in production with smaller increases in employment, order backlogs and new orders. Supplier deliveries declined, according to the report. These tariffs are expected to be a "hurricane-like" headwind to foreign and many US automakers, and could result in vehicle price increases, Wedbush Securities said last week.

In company news, Corcept Therapeutics ( CORT ) shares soared 109% after the company said its phase 3 trial of relacorilant plus nab-paclitaxel to treat a type of ovarian cancer met its primary goal.

Newton Golf ( NWTG ) shares were up more than 39% after the company reported a 817% year-over-year increase in its Q4 net sales.

Mr. Cooper ( COOP ) shares were up 14% after Rocket (RKT) agreed to buy the company in an all-stock deal valued at $9.4 billion. Rocket shares fell more than 7%.

Moderna ( MRNA ) stock was down nearly 9%, the worst performer on the S&P 500. The top vaccine official at the US Food and Drug Administration resigned late Friday, blaming the current US Secretary of Health and Human Services for seeking "subservient confirmation of his misinformation and lies." Other vaccine makers were also down: Novavax (NVAX) was down 8%, while Pfizer (PFE) was up 0.5%.

Gold gained 1.4% to $3,157.2 per troy ounce, while silver was down 0.3% to $34.73 per troy ounce.