Rising shares of Nvidia and Alphabet pushed stocks to new records on Monday, but consumer-facing companies struggled. The S&P 500 edged 0.1% higher while the Nasdaq composite advanced 0.2%, both building on record highs set Friday. Chip stocks including Broadcom and Advanced Micro Devices slipped after a historic climb, weighing on broader benchmarks.

Domino's Pizza led S&P 500 declines after lowering its U.S. same-store sales growth estimates for the year. Executives blamed falling consumer sentiment, rising gas prices and cash-strapped customers cutting back. The stock plummeted 8.8% to its lowest closing level since 2023. Other consumer stocks slid: Dollar Tree fell 5.5%, Ulta Beauty dropped 3.4%, and Taco Bell parent Yum Brands declined 3.2%.

The divergence highlights how investor confidence in artificial-intelligence-driven growth is currently outweighing concerns about consumer spending weakness. The Dow Jones Industrial Average edged 63 points lower, reflecting the mixed sentiment across sectors.