US stocks steady ahead of key economic data
- S&P 500 was flat at 6,933.81, while Nasdaq Composite Index edged up 0.1% to 23,054.05
NEW YORK: Wall Street stocks were little changed early Monday in muted trading ahead of key US economic data this week.
Major US indices piled on two percent or more on Friday, driving the Dow above 50,000 points for the first time.
“People are reassessing Friday’s move and saying that it was so huge that it wouldn’t be unusual to expect a little profit taking,” said Steve Sosnick of Interactive Brokers. “That’s fairly standard.”
READ MORE: Wall Street Week Ahead: Tech stock shakeout clouds market ahead of economic data deluge
About 10 minutes into trading, the Dow Jones Industrial Average was down 0.2 percent at 49,994.11.
The broad-based S&P 500 was flat at 6,933.81, while the tech-rich Nasdaq Composite Index edged up 0.1 percent to 23,054.05.
This week’s calendar includes key US jobs data, as well as reports on retail sales and inflation. Ford and McDonald’s are among the companies reporting quarterly results.
Among individual companies, Kroger surged 6.0 percent after the supermarket chain named former top Walmart executive Greg Foran as CEO.
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