A trader on the floor of the New York Stock Exchange.
The S&P 500 and the Dow Jones Industrial Average turned lower during Monday’s session. Investors are anticipating the consumer price inflation reading for May to accelerate from an already multi-year high. A rally in shares of so-called meme stock AMC resumed. See more stories on Insider’s business page.
US stocks mostly moved lower Monday as investors prepared to see a potential kick higher in consumer price inflation while facing concerns about a new corporate minimum tax rate worldwide.
The S&P 500 edged back from an earlier gain and moved slightly farther away from a near-record high but tech stocks as tracked on the Nasdaq Composite reversed course and gained ground.
Here’s where US indexes stood at 4:00 p.m. on Monday:
Wall Street is already gearing up for the Labor Department’s inflation report due Thursday. It may show consumer price inflation rose to 4.6% year over year in May, according to an Econoday consensus estimate. That rate would be faster than April’s print of 4.2% which was