Wall Street Ends Unchanged with Slight Upside on U.S.-China Trade Talks
Investors are also bracing for a busy week of economic data, with particular focus on the U.S. Consumer Price Index (CPI) for May.
Quick overview
- U.S. stock indexes closed with modest moves, reflecting a slight positive bias as trade negotiations between the U.S. and China resumed.
- The Dow Jones Industrial Average ended flat, while the S&P 500 and Nasdaq Composite saw minor gains, supported by strong performances from Amazon and Alphabet.
- Investors are preparing for a busy week of economic data, particularly focusing on the upcoming U.S. Consumer Price Index release.
- Market expectations indicate a slight increase in both headline and core inflation rates, which could impact the Federal Reserve's policy decisions.
U.S. stock indexes closed with modest moves on Monday, showing a slight positive bias as investors welcomed the resumption of trade negotiations between the United States and China.
The Dow Jones Industrial Average ended flat at 42,761.76 points, while the S&P 500 edged up 0.09% to 6,005.88, and the tech-heavy Nasdaq Composite rose 0.31% to 19,591.24.
Senior officials from Washington and Beijing met at Lancaster House in London to address ongoing trade disagreements following a preliminary agreement reached in Switzerland this past May. While both sides have accused each other of non-compliance, markets viewed the renewed dialogue as a constructive step—even in the absence of concrete outcomes.
Tech Stocks Mixed as Apple Slips on Developer Event
Gains in Amazon.com (+1.60%) and Alphabet, parent company of Google (+1.39%), helped lift the S&P 500 and Nasdaq, offsetting a 1.21% decline in Apple shares as the company kicked off its annual Worldwide Developers Conference (WWDC).
All Eyes on U.S. Inflation Data
Investors are also bracing for a busy week of economic data, with particular focus on the U.S. Consumer Price Index (CPI) for May, scheduled for release Wednesday. Market consensus expects a slight uptick in the headline inflation rate—from 2.3% to 2.5%, and a modest increase in core inflation—from 2.8% to 2.9%.
Later in the week:
- Thursday: Producer Price Index (PPI) and weekly jobless claims
- Friday: University of Michigan’s inflation expectations and consumer sentiment reports
These releases could influence the Federal Reserve’s policy stance ahead of its next meeting, as inflation and labor market signals remain key indicators.
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