Wall Street ended Monday with mixed results as investors prepared for critical U.S. economic data, particularly the upcoming consumer price index (CPI) report, which could influence the Federal Reserve’s next move on interest rates. The Dow Jones Industrial Average dipped 0.36%, while the S&P 500 remained flat, and the tech-heavy Nasdaq Composite edged up by 0.21%.
Anticipation is building for Wednesday’s CPI data, expected to show a 0.2% increase in July, with the annual rate holding steady at 3%. Traders are closely watching these numbers to gauge the Federal Reserve’s monetary policy direction, with money markets split on whether the Fed will cut rates by 25 or 50 basis points in September.
Investor attention is also focused on Thursday’s retail sales data, with any signs of consumer weakness potentially reigniting recession fears. Major retailers like Walmart and Home Depot are set to report earnings, providing further insights into consumer demand.
In corporate news, Starbucks shares rose 2.58% following reports of activist investor Starboard Value’s stake, while KeyCorp jumped 9.1% after Scotiabank acquired a minority stake in the regional lender.
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