Dow, S&P 500 eke out gains as investors await inflation update
U.S. stocks closed mostly higher on Monday, except for the Nasdaq,...
U.S. stocks closed mostly higher on Monday, except for the Nasdaq, as investors awaited on fresh economic data and corporate earnings to kick off. The Dow Jones Industrial Average DJIA, 0.30% rose about 100 points, or 0.3%, ending near 33,586, for its third session in a row of gains, according to preliminary FactSet data. The S&P 500 index SPX, 0.10% gained 0.1%, while the Nasdaq Composite Index COMP, -0.03% closed fractionally lower, or less than 0.1%. It’s a big week for economic data, including Wednesday’s consumer-price index reading for March. Producer prices are due Thursday and retail sales on Friday, which also marks the start of bank earnings, including from JPMorgan Chase JPM, +0.36%, Citigroup C, +1.47% and Wells Fargo WFC, +1.95%.
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That’s the expected takeaway from Wednesday’s inflation report (the consumer price index for March, technically speaking). The Fed has signaled it will end its interest rate hikes imminently, but that could get tricky if inflation doesn’t start dropping…fast.
U.S. stock futures mostly lower following long Easter weekend
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U.S. stock futures traded weaker to flat on Monday, with signs that technology could be leading any lower action following the long Easter weekend. S&P 500 futures ES00, -0.57% fell 8 points, or nearly 0.2%, to 4,124, while Dow Jones Industrial Average futures YM00, -0.38% eased 11 points to 33,650 and Nasdaq-100 futures NQ00, -0.79% fell 64.5 points, or 0.4%, to 13,107.
