US close: Stocks mixed as investors await CPI reading

(Sharecast News) - Wall Street stocks turned in a mixed performance on Monday following a winning week for the Dow. At the close, the Dow Jones Industrial Average was down 0.21% at 39,431.51, while the S&P 500 lost 0.02% to 5,221.42 and the Nasdaq Composite saw out the session 0.29% firmer at 16,388.24.

The Dow closed 81.33 points lower on Monday, taking a bite out of gains recorded in what was the blue-chip's best week so far this year.

As for the new week, market participants will hope to gain further insights into the Federal Reserve's thinking when it comes to the future of monetary policy, with April's consumer price index report set to be published on Wednesday. Investors will look to see numbers that signal a return to rate hikes being largely off the table despite several pieces of hotter-than-expected inflation data in recent months.

On Monday, Federal Reserve Bank vice chair Philip Jefferson said it was appropriate to keep interest rates steady until there was additional evidence that inflation will return to the central bank's 2% target.

However, the Dow headed south after the New York Federal Reserve revealed that consumers raised their expectations for price increases in both the near and long term in April. On a year-on-year basis, inflation expectations rose to 3.3%, while the five-year outlook ticked up to 2.8%.

In the corporate space, GameStop surged after the Reddit trader behind 2021's short squeeze posted for the first time in three years.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Walgreens Boots Alliance, Inc. (WBA) $18.12 5.41% Intel Corp. (INTC) $30.51 2.21% Nike Inc. (NKE) $92.72 1.96% Apple Inc. (AAPL) $186.28 1.76% Cisco Systems Inc. (CSCO) $48.67 1.28% Johnson & Johnson (JNJ) $151.22 0.87% 3M Co. (MMM) $99.63 0.71% Caterpillar Inc. (CAT) $356.68 0.53% Coca-Cola Co. (KO) $63.58 0.51% Verizon Communications Inc. (VZ) $40.54 0.35%

Dow Jones - Fallers

Home Depot Inc. (HD) $340.96 -1.58% American Express Co. (AXP) $238.65 -1.51% McDonald's Corp. (MCD) $271.32 -1.34% Travelers Company Inc. (TRV) $216.58 -0.88% Chevron Corp. (CVX) $164.53 -0.78% Merck & Co. Inc. (MRK) $129.34 -0.59% Procter & Gamble Co. (PG) $165.71 -0.59% Amgen Inc. (AMGN) $308.43 -0.56% Visa Inc. (V) $279.39 -0.48% Goldman Sachs Group Inc. (GS) $453.56 -0.26%

S&P 500 - Risers

Incyte Corp. (INCY) $57.60 8.56% Kohls Corp. (KSS) $25.92 8.32% Walgreens Boots Alliance, Inc. (WBA) $18.12 5.41% Carmax Inc. (KMX) $74.90 4.45% American Airlines Group (AAL) $14.91 3.58% Akamai Technologies Inc. (AKAM) $94.32 3.43% Tapestry Inc. (TPR) $41.35 3.19% United Airlines Holdings Inc (UAL) $54.40 3.19% VF Corp. (VFC) $12.81 3.14% Ford Motor Co. (F) $12.33 2.84%

S&P 500 - Fallers

Foot Locker Inc. (FL) $22.74 -5.68% CenturyLink Inc. (LUMN) $1.26 -4.58% Mettler Toledo International (MTD) $1,461.64 -3.22% Cummins Inc. (CMI) $291.45 -2.40% General Electric Co. (GE) $159.50 -2.37% Edwards Lifesciences Corp. (EW) $84.70 -2.33% CBRE Group Inc (CBRE) $88.13 -2.32% Transdigm Group Inc. (TDG) $1,280.69 -2.28% Quanta Services Inc. (PWR) $265.48 -2.23% Gap Inc. (GPS) $22.26 -2.20%

Nasdaq 100 - Risers

Qurate Retail Inc. (QRTEA) $0.83 19.06% Incyte Corp. (INCY) $57.60 8.56% Walgreens Boots Alliance, Inc. (WBA) $18.12 5.41% JD.com, Inc. (JD) $33.78 4.91% American Airlines Group (AAL) $14.91 3.58% Sirius XM Holdings Inc (SIRI) $3.13 3.47% Baidu Inc. (BIDU) $111.79 2.88% Trip.com Group Limited (TCOM) $54.90 2.50% Gilead Sciences Inc. (GILD) $67.57 2.44% Gen Digital Inc. (GEN) $24.00 2.28%

Nasdaq 100 - Fallers

PACCAR Inc. (PCAR) $106.87 -2.12% Booking Holdings Inc. (BKNG) $3,739.21 -1.75% Meta Platforms Inc. (META) $468.01 -1.72% Intuitive Surgical Inc. (ISRG) $380.76 -1.54% Costco Wholesale Corp. (COST) $775.27 -1.51% Applied Materials Inc. (AMAT) $206.63 -1.48% Cintas Corp. (CTAS) $690.16 -1.44% Asml Holdings N.V. (ASML) $917.24 -1.40% Monster Beverage Corp (MNST) $54.72 -1.33% Idexx Laboratories Inc. (IDXX) $503.02 -1.33%