The Dow Jones Industrial Average and S&P 500 wavered near the flat line, while the tech-heavy Nasdaq Composite slipped 0.3% after a winning week for the major indexes. US stocks were muted to kick off a week of earnings and inflation data, with the major indexes within reach of all-time highs.
→ Super Micro Computer, CoreWeave, and Cisco Systems are among the companies reporting earnings this week, with several economic reports also due, including the Consumer Price Index and Initial Jobless Claims.
→ The 10-year Treasury note yield rose as oil prices climbed and investors looked ahead to a busy week of economic data, with the benchmark yield gaining more than 3 basis points to 4.692%.
→ Sector divergence: Storage stocks rallied on Morgan Stanley upgrades while mega-cap tech faced selling pressure mid-session.