The US stock market concluded a lackluster session with a mixed tone on Monday, April 8, 2024, as investors hesitated to make significant moves ahead of the release of crucial inflation and economic data later in the week.
At the closing bell, the Dow Jones Industrial Average index dipped by 11.24 points, or 0.03%, to 38,892.80. The S&P 500 index also saw a minor decline of 1.95 points, or 0.04%, closing at 5,202.39. On the other hand, the Nasdaq Composite index experienced a slight uptick of 5.44 points, or 0.03%, reaching 16,253.96.
Among the major S&P 500 sectors, six out of eleven closed lower, with the healthcare sector being the bottom performer, falling by 0.38%. Conversely, the real estate sector emerged as the top performer, rising by 0.82%.
Investor attention remains focused on the upcoming release of the US consumer price index (CPI) report, along with speeches by Federal Reserve officials and the release of minutes from the Fed’s March FOMC meeting. Scheduled speeches by Fed officials, including New York Fed President John Williams and Boston President Susan Collins later in the week, are also anticipated to provide further insights into the economic outlook.
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