US Stocks Mostly Fall As Markets Await Inflation Data
Date
1/13/2025 2:37:57 PM
(MENAFN- The Peninsula)
AFP
New York: Wall Street Stocks mostly fell early Monday as Treasury bond yields lingered at a high level while markets looked ahead to earnings and economic data releases.
Equities had tumbled Friday following strong US jobs data that traders viewed as lessening the odds of federal Reserve interest rate cuts in 2025.
This week's calendar includes key inflation data that will also influence the Fed's actions.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.3 percent at 42,058.66.
The broad-based S&P 500 declined 0.7 percent to 5,787.34, while the tech-rich Nasdaq Composite Index dropped 1.4 percent to 18,892.01.
Among individual companies, Johnson & Johnson rose 1.1 percent after announcing a deal to acquire Intra-Cellular Therapies for about $14.6 billion.
Intra-Cellular, which focuses on treatments for depression and schizophrenia, jumped 34 percent.
But Moderna sank 23.1 percent as it projected 2025 revenues of between $1.5 and $2.5 billion, falling from the 2024 level of around $3 billion.
Besides the consumer and producer price index reports, this week's calendar includes major bank earnings and US retail sales for December.
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