Capping declines on the tech-heavy Nasdaq (.IXIC) was megacap Microsoft Corp (MSFT.O). Seven of the top 11 sectors on the S&P 500 were in declines, but technology (.SPLRCT) was among top gainers propped up by Microsoft. Expectations of high rates for a protracted period dragged Wall Street's main indexes down on Monday. But, all three major averages are in the black for 2023, with the Nasdaq (.IXIC) adding over 13%, led by a revival in battered mega-cap growth stocks. So far, more than half of the companies on the S&P 500 have reported quarterly earnings, with 69.1% of them beating expectations, according to Refinitiv.

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