US Stocks Dip Ahead of CPI, Tariff Pause Extended
Stocks in the US slipped on Monday as traders braced for a busy week of economic data and geopolitical developments.
The S&P 500 closed 0.2% lower, the Dow Jones fell 199 points, and the Nasdaq 100 fell 0.3% after last week’s strong gains that saw the tech-heavy index notch consecutive record closes.
Investors are eyeing July’s CPI on Tuesday and PPI on Thursday, key inputs for the Fed’s September rate decision, with markets pricing in a high chance of a cut. Trade tensions lingered as President Trump extended a 90-day pause on tariffs for Chinese goods and confirmed a deal requiring Nvidia and AMD to give the US 15% of revenue from certain AI chip sales to China.
He also clarified that gold imports would not face tariffs, easing concerns over Swiss bars. Tech stocks were mixed, with Intel up on reports its CEO will visit the White House and Micron gaining after raising its earnings outlook, while Apple slipped 1.4% following its strongest week in over five years.
Source: Trading Economics
