Markets

US stocks open week mostly lower

  • The tech-rich Nasdaq Composite Index added 0.1 percent at 14,080.75.
Published June 14, 2021

NEW YORK: Wall Street stocks were mostly down early Monday ahead of a closely-watched Federal Reserve meeting and key economic reports on retail sales and housing.

The S&P 500 finished last week at a record, despite choppiness in markets as investors weigh optimism about the economic recovery against worries over inflation.

After its two-day meeting, the Fed is expected to maintain the current policy of accommodation, but central bank chief Jerome Powell will face myriad questions about prices during a news conference.

Powell could Wednesday offer more assurances that the Fed will be vigilant about price pressures and stress that it has tools to combat inflation.

Other key reports this week include May data on retail sales, housing starts and producer prices.

About 35 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent to 34,336.69, and the broad-based S&P 500 fell 0.2 percent to 4,237.56.

The tech-rich Nasdaq Composite Index added 0.1 percent at 14,080.75.

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