NEW YORK: Wall Street stocks were little changed early Monday ahead of key US inflation data and a handful of major earnings reports.
The S&P 500, which surged beyond 5,000 points on Friday to finish above that level for the first time, held its ground in a quiet beginning to the trading week.
Noting stocks’ largely unbroken climb higher since late October, CFRA Research’s Sam Stovall said the market could be poised for a period of “digestion fairly soon.”
Wall Street Week Ahead: Market breadth suggests narrowing rally as S&P 500 hits records
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 38,692.17.
The broad-based S&P 500 was unchanged at 5,027.24, while the tech-rich Nasdaq Composite Index added 0.1 percent at 16,001.91.
Among individual companies, Diamondback Energy shares rose 6.9 percent after reaching an agreement to acquire private oil company Endeavor Energy Resources for about $26 billion.
This was the latest big petroleum merger centered on the Permian Basin, a key production region in Texas and New Mexico.
This week’s calendar includes the closely watched consumer price index data for January, as well as earnings from Coca-Cola and Marriott International.
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