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Boeing ( BA ) gains after offering new wage deal

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Humana, Cigna ( CI ) fall after report companies resumed merger

talks

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114 S&P 500 companies to report results this week

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Nvidia ( NVDA ) briefly touches record high

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Indexes down: Dow 0.75%, S&P 500 0.43%, Nasdaq 0.16%

(Updated at 12:08 p.m. ET/1608 GMT)

By Lisa Pauline Mattackal and Purvi Agarwal

Oct 21 (Reuters) -

Wall Street lost ground on Monday, retreating after a strong

rally the previous week, as investors awaited earnings from

major companies to gauge whether equities would sustain their

recent run to record highs.

A jump in Treasury yields added pressure, with the yield

on the benchmark 10-year bond rising as high as 4.17%, a 12-week

high.

Most rate-sensitive megacap technology stocks slipped,

with Tesla down 1%, and Microsoft ( MSFT ) and Meta

Platforms ( META ) both losing 0.7%.

The Dow Jones Industrial Average fell 323.49 points,

or 0.75%, to 42,952.42, the S&P 500 lost 24.97 points, or

0.43%, to 5,839.70, and the Nasdaq Composite lost 29.52

points, or 0.16%, to 18,460.03.

After a fairly upbeat start to earnings season, the

focus is on the 114 S&P 500 companies that are scheduled to

report results this week. These include Tesla,

Coca-Cola and Texas Instruments ( TXN ).

"There's always a degree of caution going into the heart

of earnings season... there are some underlying factors in the

market that are generally positive, but I'd say that's just

being overshadowed here by earnings," said Tim Ghriskey, senior

portfolio strategist with Ingalls & Snyder.

"We're seeing yields across the board going up a bit

here. There's been some nervousness about some of economic data

we've seen recently."

Of the companies that have reported so far, 83.1% beat

earnings estimates, according to data compiled by LSEG on

Friday.

Some traders were likely booking profits, Ghriskey said.

The three major indexes logged a sixth consecutive week

of gains on Friday, their best winning streak so far this year,

while the Dow and the S&P 500 both closed at record highs.

Monday's declines were broad, with almost all 11 major

S&P 500 sectors in the red, barring a slight rise in Information

Technology.

The rate-sensitive Real Estate sector dropped

1.9% as yields rose, while the technology sector was lifted by a

2.3% jump in chip heavyweight Nvidia ( NVDA ), which briefly

touched a fresh record high.

The economically sensitive small-cap Russell 2000

dropped 1.4%.

Investors also looked ahead to the upcoming U.S.

presidential election, with polls showing the chances improving

for former President Donald Trump.

"As the election date approaches, even small changes in

tight polls could drive seemingly erratic swings in market

sentiment," Danske Bank analysts said.

Meanwhile, Boeing ( BA ) jumped 3% after news that

workers could vote on a new deal to end a costly five-week-long

strike.

Spirit Airlines ( SAVE ) skyrocketed 66.7% after the company

reached an agreement to extend a debt refinancing deadline by

two months.

Humana slipped 1.5% after a report said Cigna ( CI )

had resumed merger talks with the health insurer. Cigna's ( CI ) shares

lost 4.4%.

Fed officials Neel Kashkari, Jeffrey Schmid and Mary Daly

are scheduled to speak on the day.

Home sales, flash PMI and durable goods reports are on

the data docket through the week, as is the Federal Reserve's

Beige Book.

Declining issues outnumbered advancers by a 4.16-to-1

ratio on the NYSE, and by a 2.6-to-1 ratio on the Nasdaq.

The S&P 500 posted 39 new 52-week highs and two new

lows, while the Nasdaq Composite recorded 72 new highs and 30

new lows.