U.S. stocks were choppy on Monday, as investors looked ahead to a high-profile quarterly earnings report from Nvidia and crucial economic data.
By 10:02 ET (15:02 GMT), the benchmark S&P 500 had fallen by 19 points or 0.3%, the tech-heavy Nasdaq Composite had dipped by 159 points or 0.8%, and the 30-stock Dow Jones Industrial Average was mostly flat.
The main averages on Wall Street fell on Friday and posted weekly losses, weighed down in part by figures showing a decline in U.S. business activity to a 17-month low -- signaling that businesses and consumers were becoming increasingly worried about Trump administration policy actions.
Consumer sentiment also slipped to a 15-month low and inflation expectations surged, as households fretted over the impact of U.S. President Donald Trump's tariff plans on their purchasing power.
On the economic calendar, traders will be paying close attention to the U.S. personal consumer expenditures price index for January. The data, due out on Friday, is widely viewed as one of the inflation metrics most preferred by officials at the Federal Reserve.
Nvidia results ahead this week
Nvidia (NASDAQ:NVDA) is set to headline the earnings slate this week, with the semiconductor group and figurehead of a surge in investment in artificial intelligence expected to release its results after the market close on Wednesday.
The world's second-most valuable company, Nvidia has become a bellwether for a boom in enthusiasm around AI that has powered a multi-year climb in stock markets.
The trend has propelled a skyrocketing in Nvidia's share price by more than 550% over the past two years.
Source: Investing.com
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