U.S. stocks paused on Monday after a strong rally in the prior session as investors shift focus to a key inflation reading later this week.
The struggle for a clearer direction comes after a rally on Friday, when U.S. jobs data pointed to a resilient labor market.
"Whenever you have a big up day, people need more good news to keep the market up every day in a row," said portfolio manager Moez Kassam of Anson Funds. The spotlight this week will be on the Labor Department's inflation reading on Wednesday, which is expected to show the consumer price index likely climbed 0.4% in April after gaining 0.1% in March. Producer prices, weekly jobless claims and consumer sentiment data are all lined up for the week.
"The bigger picture is inflation will remain higher for longer and that we are heading into a recession," Michael James, managing director of equity trading at Wedbush Securities. "Whether that's hard or soft remains to be seen, but until there's something to disprove that bigger picture thesis, the overall market is going to remain somewhat range bound."
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Wall Street Week Ahead: U.S. consumer price data to test feared stagflation scenario By Reuters*WALL ST. WEEK AHEAD: U.S. CONSUMER PRICE INFLATION DATA TO TEST FED PAUSE BETS $DIA $SPY $QQQ 🇺🇸🇺🇸
Baca lebih lajut »
Wall Street's still worried despite Friday's fakeout | CNN BusinessStocks saw a comeback on Friday after four consecutive days of declines. But there are several key signs that show the market is far from shedding its worries.
Baca lebih lajut »
Asia markets set for mixed open after Wall Street rebound on FridayAsian markets trade mixed after Wall Street snapped a four day losing streak on Friday
Baca lebih lajut »
Wall Street primary wide open as DeSantis stumblesRon DeSantis' gubernatorial reelection campaign is still loaded with cash, giving him big advantages over possible competitors. But many now say he no longer seems so formidable — at least on Wall Street.
Baca lebih lajut »
WSJ News Exclusive | Carbon Markets Get Boost From Wall StreetThe booming market for carbon credits could go mainstream under a plan to make it easier for financial firms to create products such as exchange-traded funds
Baca lebih lajut »
Washington and Wall Street brace for White House debt ceiling talksBiden is set to meet with House Speaker Kevin McCarthy and other congressional leaders Tuesday as the clock ticks on a potential government default as soon as June 1.
Baca lebih lajut »