Wall Street Closes Mixed; Tech Sector Stands Out

The U.S. stock market ended without a clear direction, dominated by caution ahead of the release of key inflation data in the United States.

Wall Street’s major indexes had mixed performances on Monday. The U.S. stock market closed without a clear direction, dominated by caution as investors awaited the release of key U.S. inflation data on Tuesday and Wednesday.

The Dow Jones Industrial Average, which includes 30 major companies, fell 0.36% to 39,357.01 points, while the S&P 500, comprising 500 stocks, remained stable at 5,344.39 points. The tech-heavy Nasdaq rose 0.21% to 16,780.61.

Investors are preparing for this week’s release of key U.S. inflation data, which could provide clues as to whether the Federal Reserve will indeed cut interest rates next month. Important retail sales figures are also set to be released.

Rate futures uniformly predict a rate cut, either by 25 or 50 basis points, at the Federal Reserve’s September meeting, according to CME’s Fed Watch tool. They foresee a total of 100 basis points cut by the end of the year.

By sector, the biggest losses were in real estate, down 0.64%, while the technology sector stood out with a 0.92% gain. In the Dow Jones, Walmart led gains with a 1.11% increase, while Procter & Gamble stood out on the downside, dropping 2.19%.