The S&P 500 was little changed on Monday after it posted its biggest weekly gain in almost five months on the back of easing inflation data.
The market was divided, with the broad-market index hovering around the flat line, while the tech-heavy Nasdaq Composite slid 0.4%. Meanwhile, the Dow Jones Industrial Average advanced by 0.3%.
The S&P tech sector was down by about 1%, after posting its best week since April 2020 in the previous session.
“The market is trying to digest and even make sense of last week’s outsized equity market run in the face of Fed Governor Waller’s cautionary comments about the Fed still having a lot to do,” BMO Wealth Management Chief Investment Strategist Yung-Yu Ma.
“This week will have other Fed members comments and an array of economic data including retail sales, producer prices, industrial production, housing, and more – eventually we expect the market’s focus to turn away from the Fed and focus on the…
