Dow36068.87-162.79(-0.45%)Nasdaq14942.83+6.93(0.05%)SP 5004670.29-6.74(-0.14%)10-yr Note 0/321.772NYSEAdv 1174 Dec 2051 Vol 1.0 blnNasdaqAdv 1565 Dec 2943 Vol 5.2 bln Industry Watch Strong: Health Care, Information Technology, Communication ServicesWeak: Industrials, Materials, Consumer Staples Moving the Market -- Investors buy the intraday weakness, with the Nasdaq successfully overcoming a 2.7% decline-- 10-yr yield touched 1.81% before calming down -- Lingering concerns about rising rates and the Fed's plans for normalizing policy Nasdaq completes comeback after 10-yr yield calms downDow -162.79 at 36068.87, Nasdaq +6.93 at 14942.83, S&P -6.74 at 4670.29 [BRIEFING.COM] The S&P 500 (-0.1%) declined for the fifth straight session on Monday, but it only lost 0.1% after being down 2.0% intraday. The Nasdaq Composite (+0.1%) eked out a gain after being down 2.7% intraday, while the Dow Jones Industrial Average (-0.5%) and Russell 2000 (-0.4%) also closed well off session lows. The intraday weakness was attributed to persisting concerns about rising rates and the Fed's agenda for policy normalization. The 10-yr yield hit 1.81% intraday before ending the session at 1.77%, or one basis point above Friday's settlement. The 2-yr yield rose three basis points to 0.90%. Investors started to buy the dip soon after it looked like the 10-yr yield peaked for the day, finding a good excuse to buy into an oversold condition. The Nasdaq, for instance, was down 8.2% in less than five sessions and had fallen below its 200-day moving average (14690). The S&P 500 couldn't reclaim its 50-day moving average (4676), though, as eight of its 11 sectors still closed lower. The industrials (-1.2%) and materials (-1.0%) sectors declined at least 1.0%, while the health care sector advanced 1.0%. Evidently, cyclical stocks were lumped into the selling activity today. Besides downside momentum, risk sentiment in the space was pressured by a report from the Washington Post indicating that Senator Manchin (D-WV) is no longer interested in passing any legislation resembling the Build Back Better Act. In the health care space, Pfizer ($PFE 56.24, +0.52, +0.9%) told CNBC that a COVID-19 vaccine for the Omicron variant will be ready in March, and Moderna ($MRNA 233.70, +19.84, +9.3%) provided an upbeat sales forecast for COVID-19 vaccines in 2022. Separately, shares of Take-Two Interactive ($TTWO 142.99, -21.61, -13.1%) dropped 13% on concerns that it overpaid for its acquisition of Zynga ($ZYNG 8.44, +2.44, +40.7%). The cash-and-stock transaction at $9.86 per Zynga share gave the company a total enterprise value of approximately $12.7 billion. The U.S. Dollar Index increased 0.3% to 95.97. WTI crude futures declined 1.1%, or $0.83, to $78.11/BBL. Monday's economic data was limited to Wholesale Inventories, which increased 1.4% m/m in November (Briefing.com consensus 1.2%) following a revised 2.5% increase (from 1.2%) in October. Looking ahead, investors will receive the NFIB Small Business Optimism Index for December on Tuesday. Dow Jones Industrial Average -0.7% YTDS&P 500 -2.0% YTDRussell 2000 -3.3% YTDNasdaq Composite -4.5% YTD Source: (Briefing.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .