NEW YORK: Wall Street stocks treaded water early Monday to open a week that includes key readings on inflation and earnings reports from bank giants.
The quiet start to the trading week comes after Friday’s strong jobs data led to a rebound, after Thursday’s selloff amid geopolitical worries.
“There is perhaps a small measure of relief that the weekend didn’t produce any attack by Iran on Israel or Israel’s interests,” said Briefing.com analyst Patrick O’Hare.
“There is also some understandable hesitation, though, in front of some important news items that have yet to be seen.”
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About 10 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 38,937.54.
The broad-based S&P 500 was flat at 5,202.93, while the tech-rich Nasdaq Composite Index was unchanged at 16,248.89.
This week’s calendar includes closely-watched consumer and producer price data, as well as earnings from JPMorgan Chase and other large banks.
Companies in the S&P 500 are expected to report year-over-year earnings growth of $3.2 percent, according to Factset.
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