Mega-cap tech stays strong in positive day for Nasdaq, but Dow dropsDow -233.82 at 28420.05, Nasdaq +79.82 at 11775.46, S&P -7.70 at 3500.31 [BRIEFING.COM] Mega-cap tech powered the Nasdaq Composite to a 0.7% gain and to new record highs on Monday. The S&P 500 set an intraday record high but declined 0.2% amid relative weakness in the broader market. The Dow Jones Industrial Average fell 0.8%, and the Russell 2000 fell 1.0%. There was an absence of new macro developments, so the same tech-related stocks continued to set the winning pace at the expense of the cyclical stocks within the energy (-2.2%), materials (-1.5%), financials (-1.2%), and industrials (-1.2%) sectors. Declining issues outpaced advancing issues by more than a 2:1 margin at the NYSE. Apple ($AAPL 129.04, +4.23, +3.4%) and Tesla ($TSLA 498.32, +55.64, +12.6%) rose 3% and 12%, respectively, as investors continued to bid shares higher following their stock splits today. Amazon ($AMZN 3450.96, +49.16, +1.5%) gained 1.5% after its drone delivery unit received FAA certification. AAPL and AMZN carried the S&P 500 information technology (+0.4%) and consumer discretionary (+0.2%) sectors into the green, but the health care (+0.3%) and utilities (+0.3%) sectors also put in a positive performance. Interestingly, the CBOE Volatility Index climbed 15.0% to 26.41, as investors assumed some protection against a possible downturn in equities. The popular view is that a modest correction could come in September after a strong two-month performance in the S&P 500. The benchmark index ended August with an impressive 7.0% gain. Separately, CNBC reported that a TikTok deal could be announced as soon as tomorrow. Front-runners Microsoft ($MSFT 225.53, -3.38, -1.5%), Walmart ($WMT 138.85, -1.45, -1.0%), and Oracle ($ORCL 57.22, -0.66, -1.1%) declined at least 1.0% today. U.S. Treasuries saw modest gains amid the underlying weakness in the stock market. The 2-yr yield declined two basis points to 0.13%, and the 10-yr yield declined four basis points to 0.69%. The U.S. Dollar Index declined 0.2% to 92.19. WTI crude futures declined 0.8%, or $0.35, to $42.62/BBL. Investors did not receive any notable economic data on Monday. Looking ahead, investors will receive the ISM Manufacturing Index for August and Construction Spending for July on Tuesday. Nasdaq Composite +31.2% YTDS&P 500 +8.3% YTDDow Jones Industrial Average -0.4% YTDRussell 2000 -6.4% YTD Market Snapshot Dow28420.05-233.82(-0.82%)Nasdaq11775.46+79.82(0.68%)SP 5003500.31-7.70(-0.22%)10-yr Note +1/320.704NYSEAdv 904 Dec 2069 Vol 1.1 blnNasdaqAdv 1229 Dec 2115 Vol 3.5 bln Industry Watch Strong: Information Technology, Health Care, Consumer Discretionary, UtilitiesWeak: Energy, Financials, Industrials, Materials, Real Estate Moving the Market -- Mega-cap tech powered Nasdaq to new record highs-- Continued strength in Apple (AAPL) and Tesla (TSLA) following their stock splits today-- Relative weakness in the cyclical sectorsSource: (Briefing.com)(theFly.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. . Want to trade some of these stocks?Are you interested in trading stocks to supplement your income or make a living? Maybe become a professional trader? Many traders have the skills and nerves to trade, but not the upfront capital. Well now that problem is solved!Try2BeFunded has expanded its trading program! If you're a novice or experienced trader, you can earn access to a trading account with up to $100,000! To learn more about how to qualify, click HERE and give it a shot! You have nothing to lose it is free to try. Give Try2BeFunded a try! .