On Monday, the S&P 500 remained close to a new high as investors awaited important inflation data that would shed light on whether the current market upswing is sustainable.
A few significant consumer and financial companies’ earnings are also scheduled to be released.
After hitting a record high, the broad market index shrank by 0.05%, but the Nasdaq Composite increased by 0.1%. A decrease of 24 points, or 0.01%, was seen in the Dow Jones Industrial Average. The Dow was led higher by increases of 5% and 2%, respectively, from Intel and Boeing.
Amidst persistent hope that declining inflation and any areas of economic weakness will result in a Federal Reserve interest rate cut, the S&P 500 is coming off its fourth straight week of gains.
Source (CNBC)
