Stocks Get Some Traction as Inflation Figures Promised - InvestingChannel

Stocks Get Some Traction as Inflation Figures Promised

The S&P 500 was little changed Monday as investors looked ahead to key inflation data this week.

The Dow Jones Industrials gained 100.64 points on the day to 33,585.93.

The broader index poked ahead 4.11 points to 4,109.13.

The NASDAQ remained negative, but climbed to within 3.6 points of breakeven to close at 12,084.35.

Tech stocks struggled, with shares of Apple falling 1.8% and Google-parent Alphabet sliding 1.8%. Tesla shares fell 0.3% after the company said it will cut prices again on some electric vehicles. Meanwhile, shares of chipmakers rose after Samsung said it would cut production to support prices; Micron Technology shares gained 8%.

Investors are in for a busy week of economic data, including the latest consumer price index and producer price index data – due out Wednesday and Thursday, respectively – which will be key in determining if or when the Fed will pause or put an end to its rate hiking campaign.

Prices for the 10-year Treasury dipped, lifting yields to 3.42% from Thursday 3.30%. Treasury prices and yields move in opposite directions.

Oil prices faltered 82 cents to $79.88 U.S. a barrel.

Gold prices declined $19.60 to $2,006.80 U.S. an ounce.

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