It was a mixed start to the week with the Dow Jones Industrial Average and S&P 500 managing small gains, while the Nasdaq remained in the red. Consumer staples and telecom stocks were the best performers on Wall Street.  It was another bruising day for Foot Locker Inc. (FL) as its shares sold off in sympathy with Nike Inc. (NKE) , which was lower on a Jefferies downgrade. Foot Locker, a major carrier of Nike products, has declined for three days in a row. KeyBanc reiterated Broadcom Ltd. (AVGO) as OVERWEIGHT ahead of its earnings report on Thursday. The firm believes chipmaker Broadcom is likely to get a boost when Apple Inc. (AAPL) releases its highly anticipated iPhone 8. Lions Gate Entertainment Corp. (LGF) topped a quiet box office weekend with its new release, The Hitman's Bodyguard. The Samuel L. Jackson action film took the top spot with $21.6 million in domestic takings.

More from Video

Jim Cramer on Canopy Growth's New $4 Billion Stake From Constellation Brands

Jim Cramer on Canopy Growth's New $4 Billion Stake From Constellation Brands

Jim Cramer on the Market Selloff, Macy's, Constellation Brands and Canopy Growth

Jim Cramer on the Market Selloff, Macy's, Constellation Brands and Canopy Growth

Jim Cramer Breaks Down the Decline in Macy's Stock Even With a Strong Quarter

Jim Cramer Breaks Down the Decline in Macy's Stock Even With a Strong Quarter

Cramer: Warren Buffett's Apple Buys Aren't Enough to Stop Wednesday's Declines

Cramer: Warren Buffett's Apple Buys Aren't Enough to Stop Wednesday's Declines

Jim Cramer on Wednesday's Stock Selloff: Let It Run Its Course

Jim Cramer on Wednesday's Stock Selloff: Let It Run Its Course