Wall Street Flat as Markets Await US Inflation Data
US stock markets saw limited movement during Monday's trading (August 11) following a recent rally that kept major indices near record highs. The S&P 500 and Dow Jones traded flat, while the Nasdaq 100 edged lower as investors weighed the outlook for interest rates this year.
At the opening bell, the Dow Jones Industrial Average rose 35.7 points (0.07%) to 54,072.66. The S&P 500 fell 5.9 points (0.08%) to 7,751.74, while the Nasdaq Composite dipped 10.2 points (0.04%) to 26,680.44.
Market sentiment was influenced by July's Nonfarm Payrolls data, which showed a surprise decline in employment. These figures challenged the view that the US labor market remains robust—particularly after several FOMC officials had previously adopted a hawkish stance in support of interest rate hikes.
Investors are also monitoring developments in the Middle East, specifically regarding the potential reopening of the Strait of Hormuz. Although the risk of oil supply disruptions from the Persian Gulf persists, fuel prices have remained below recent peaks, slightly easing concerns over energy-driven inflation.
Regarding market dynamics, Wall Street is likely to trade cautiously ahead of this week's US inflation data and key corporate earnings reports. Technology stocks continue to benefit from strong demand for cloud services, with Meta, Microsoft, and SpaceX rising around 1%. However, downward pressure came from Intel—which fell more than 3% following plans for a US$15 billion share offering—and Apple, which dropped 2.5% after a downgrade by Jefferies. (asd)
Source: Newsmaker.id
