US close: Stocks mixed as traders look to inflation data

(Sharecast News) - Wall Street stocks were mixed at the end of trading on Monday, ahead of a key inflation report scheduled for later in the week. At the close, the Dow Jones Industrial Average was up 09% at 32,832.54, while the S&P 500 lost 0.12% to 4,140.06 and the Nasdaq Composite was off 0.1% at 12,644.46.

The Dow closed 29.07 points higher on Monday, extending the gains it recorded on Friday after an unexpectedly strong monthly jobs report somewhat alleviated recessionary concerns.

"The calendar of both macro events and earnings has eased off after the frenetic pace of the past few weeks, which tends to give a helping hand to stocks on their upward path," said IG chief market analyst Chris Beauchamp.

"But US CPI this week could be the trigger for another drop, so late-comers to the rally need to be fairly nimble at this point."

This week's primary focus was set to be Wednesday's consumer price index report, with the outcome likely to give market participants a clearer idea as to what the Federal Reserve's move may be at its next policy meeting in September.

Investors were pricing in a higher likelihood of yet another 75 basis point rate hike next month - a third straight increase of the same amount.

Also in focus on Monday was news that the Senate had passed a $430.0bn climate bill, the Inflation Reduction Act, which had now moved on to the House where it was expected to be passed before the end of the week.

No major data points were scheduled for release on Monday, but in the corporate space, BioNTech shares slumped 7.54% after the drugmaker reported revenues and profits that both fell short of expectations.

Chipmaker Nvidia fell 6.3% after pre-announcing a second-quarter revenue of $6.7bn, and defence technology firm Palantir tumbled 14.24% after reporting a surprise loss for the second quarter.

On the upside, Energizer was ahead 3.63% after it posted third-quarter earnings that beat estimates on both the top and bottom lines.

Bed Bath & Beyond soared 13.83% after traders on Reddit's 'WallStreetBets' subreddit bet on the retailer, while Pfizer eked out gains of 0.61% after revealing that it would acquire biopharmaceutical company Global Blood Therapeutics as part of a $5.4bn deal.

Reporting by Josh White at Sharecast.com. Additional reporting by Iain Gilbert.

Dow Jones - Risers

Walt Disney Co. (DIS) $109.11 2.33% Dow Chemical Co. (DOW) $52.15 1.28% Walgreens Boots Alliance, Inc. (WBA) $39.48 1.26% Merck & Co. Inc. (MRK) $88.48 1.24% Walmart Inc. (WMT) $127.61 0.81% Home Depot Inc. (HD) $311.97 0.74% 3M Co. (MMM) $148.47 0.73% Travelers Company Inc. (TRV) $159.98 0.64% Boeing Co. (BA) $165.89 0.52% Amgen Inc. (AMGN) $247.29 0.42%

Dow Jones - Fallers

JP Morgan Chase & Co. (JPM) $114.35 -1.22% Visa Inc. (V) $213.32 -1.18% McDonald's Corp. (MCD) $256.80 -0.94% Microsoft Corp. (MSFT) $280.32 -0.92% Verizon Communications Inc. (VZ) $44.54 -0.91% Coca-Cola Co. (KO) $62.97 -0.65% Johnson & Johnson (JNJ) $170.20 -0.53% Apple Inc. (AAPL) $164.87 -0.29% Salesforce.Com Inc. (CRM) $189.75 -0.22% Chevron Corp. (CVX) $153.41 -0.15%

S&P 500 - Risers

Fluor Corp. (FLR) $24.53 6.28% Foot Locker Inc. (FL) $29.86 5.48% Gap Inc. (GPS) $10.27 5.44% Macy's Inc. (M) $18.78 5.27% TripAdvisor Inc. (TRIP) $24.84 4.11% Macerich Co (MAC) $10.80 4.05% Clorox Co. (CLX) $144.58 4.02% Under Armour Inc. Class A (UAA) $9.67 3.64% DaVita Inc (DVA) $88.47 3.26% Iron Mountain Inc (New) (IRM) $53.99 3.23%

S&P 500 - Fallers

Tyson Foods Inc. (TSN) $80.10 -8.40% Nvidia Corp. (NVDA) $177.93 -6.30% Constellation Brands Inc. Class A (STZ) $235.15 -3.88% FedEx Corp. (FDX) $229.02 -2.50% Wabtec Corp. (WAB) $92.84 -2.40% Advanced Micro Devices Inc. (AMD) $100.07 -2.19% Whirlpool Corp. (WHR) $164.85 -2.15% Resmed Inc. (RMD) $236.63 -2.14% Monster Beverage Corp (MNST) $89.43 -2.13% KLA-Tencor Corp. (KLAC) $387.68 -2.04%

Nasdaq 100 - Risers

Qurate Retail Inc. (QRTEA) $3.83 7.61% Workday, Inc. (WDAY) $166.80 3.15% Netflix Inc. (NFLX) $233.49 2.96% Expedia Group Inc. (EXPE) $105.38 2.79% Regeneron Pharmaceuticals Inc. (REGN) $630.63 2.77% Incyte Corp. (INCY) $74.00 2.55% Vertex Pharmaceuticals Inc. (VRTX) $293.95 2.06% Hologic Inc. (HOLX) $72.78 1.93% American Airlines Group (AAL) $15.02 1.90% J.B. Hunt Transport Services Inc. (JBHT) $187.07 1.89%

Nasdaq 100 - Fallers

Nvidia Corp. (NVDA) $177.93 -6.30% JD.com, Inc. (JD) $58.84 -4.96% Trip.com Group Limited (TCOM) $25.42 -4.15% Monster Beverage Corp (MNST) $89.43 -2.13% KLA-Tencor Corp. (KLAC) $387.68 -2.04% Lam Research Corp. (LRCX) $509.54 -2.01% Applied Materials Inc. (AMAT) $107.83 -1.63% Micron Technology Inc. (MU) $61.45 -1.62% QUALCOMM Inc. (QCOM) $147.81 -1.60% Take-Two Interactive Software Inc. (TTWO) $125.51 -1.30%