Wall Street mixed ahead of economic data; CPI in focus
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Wall Street stocks closed mixed on Monday as investors braced for a slew of U.S. economic data this week, especially consumer prices, to gauge the outlook for Federal Reserve monetary policy. The Dow Jones Industrial Average fell. The benchmark S&P 500 index and tech-heavy Nasdaq Composite Index closed higher. Investors are awaiting Wednesday's U.S. consumer price index reading and retailer earnings to assess demand by shoppers. The CPI data is expected to show headline inflation accelerated 0.2% in July from June, but unchanged at 3% on a year-on-year basis. Money markets are evenly betting on a 25- or 50-basis-point cut in U.S. interest rates in September, expecting a total easing of 100 bps by the end 2024, CME's FedWatch Tool showed. Figures for July U.S. retail sales on Thursday are likely to show marginal growth, and investors expect that any weakness in the data could reignite fears of a consumer slowdown and a potent...