US stocks dip ahead of inflation data
Wall Street stocks saw a slight dip Monday, influenced by upcoming US inflation data, President Trump's China visit, and escalating Iran war concerns, which also drove oil prices higher.
- Upcoming US inflation and retail sales reports.
- Geopolitical developments including Trump's China visit.
- Rising oil prices and the ongoing Iran war.
NEW YORK: Wall Street stocks dipped early Monday ahead of US inflation data as markets looked ahead to this week’s China visit by US President Donald Trump and Iran war developments.
Oil prices climbed after Trump rejected Iran’s latest counteroffer to a US peace proposal, which leaves the Strait of Hormuz mostly closed to oil tanker traffic.
About 10 minutes into trading, the Dow Jones Industrial Average was down 0.1 percent at 49,586.40.
The broad-based S&P 500 was unchanged at 7,398.19, while the tech-rich Nasdaq Composite Index dipped 0.2 percent to 26,184.07.
With the bulk of earnings season now complete, markets will turn the focus to key US inflation and retail sales reports this week.
Stocks remain near records on enthusiasm about artificial intelligence advances that has offset concerns about higher oil prices.
But the Iran war remains a point of worry.
“We’re in the eighth week of elevated energy prices, and the longer that lasts, the greater a chance that cuts economic activity,” said Art Hogan of B. Riley Wealth Management.
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