- US stocks traded mixed on Monday as investors braced for the release of the January CPI report.
- The median forecast suggests year-over-year CPI will fall to 2.9%, down from 3.4% previously.
- If inflation continues to decline, the Federal Reserve could decide to cut interest rates sooner rather than later.
U.S. stocks were mixed on Monday, with the Dow Jones Industrial Average closing at a record high, while the S&P 500 and Nasdaq 100 were slightly lower.
Investors are now bracing for January’s inflation data, with the CPI report due to be released on Tuesday morning.
Investors expect continued decline in inflation. If the index falls below, the Federal Reserve may decide to cut interest rates by the end of the year.
“Tomorrow will be all about CPI as investors look to see signs that the disinflationary process continues to move in the right direction,” Michael Reinking, senior market strategist at the New York Stock Exchange, said in a note to clients on Monday. Probably.”
The median forecast suggests year-over-year CPI will fall to 2.9%, down from 3.4% previously. Meanwhile, year-on-year core CPI is expected to drop to 3.7% from his 3.9% last time.
Here are the U.S. indexes as of Monday’s close at 4 p.m.
Here’s what else happened today:
In Commodities, Fixed Income and Cryptocurrencies:
- West Texas Intermediate crude oil rose 0.30% to $77.07 a barrel. The international benchmark Brent crude oil fell 0.10% to $82.11 per barrel.
- Gold fell 0.23% to $2,034.10 per ounce.
- The yield on the 10-year U.S. Treasury rose 1 basis point to 4.17%.
- Bitcoin rose 4.26% to $50,239.69.
