US stocks steady ahead of key economic data
Wall Street Stocks Hold Steady Ahead of Economic Data
Wall Street stocks showed minimal change early Monday, with trading remaining subdued as investors await significant economic data set to be released this week.
On Friday, major U.S. indices experienced gains of two percent or more, pushing the Dow Jones Industrial Average above the 50,000-point mark for the first time in history.
Steve Sosnick, chief strategist at Interactive Brokers, noted that investors are likely reconsidering Friday’s substantial gains. “It’s not unusual to see a bit of profit-taking after such a large move,” he said, characterizing the trend as fairly standard in the market.
About ten minutes after the market opened, the Dow was down 0.2 percent, sitting at 49,994.11. The S&P 500 remained unchanged at 6,933.81, while the Nasdaq Composite Index saw a slight increase of 0.1 percent, reaching 23,054.05.
This week will feature key U.S. economic reports, including job growth data, retail sales figures, and inflation statistics. Additionally, major corporations such as Ford and McDonald’s will release their quarterly earnings.
In individual market movements, Kroger’s stock surged by six percent following the announcement of Greg Foran, a former top executive at Walmart, as the new CEO.
