U.S. stocks opened little changed on Monday after the S&P 500 index hit a historic close as investors braced for the year's first major inflation update and the next wave of earnings reports.
The S&P 500 (^GSPC) was flat after a record week in which the benchmark closed above 5,000 for the first time. The Dow Jones Industrial Average (^DJI) was stable, but the tech-heavy Nasdaq (^IXIC) rose about 0.2%.
Stock prices have risen as the market has seen a series of better-than-expected earnings, with tech giants leading the way. All eyes are on John Deere (DE), Coca-Cola (KO), Airbnb (ABNB), and Kraft Heinz (KHC) for their upcoming quarterly reports, with reporting highlights coming in the coming days. I am.
But the week will pose new challenges for the bull market, with January's consumer price index expected to be released on Tuesday. The CPI report gives investors first insight into how well inflation is on track in 2024, along with updates on consumer spending and expectations for the timing and pace of rate cuts by the Federal Reserve this year. will be determined.
read more: Impact of Fed interest rate decisions on bank accounts, CDs, loans, and credit cards
Traders are scaling back bets on a March interest rate cut amid a series of warnings from cautious Fed officials. There will be more Fedspeak on Monday, with regional presidents Michelle Bowman, Tom Barkin and Neel Kashkari set to appear.