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Rich Asplund

Stocks Close Narrowly Mixed, Awaiting US Inflation Reports

United States Inflation Bowman US Federal Reserve KeyCorp Nvidia Scotiabank Starboard Value Starbucks the Wall Street Journal

The S&P 500 Index ($SPX) (SPY) on Monday closed unchanged, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.36%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.16%.

US stocks on Monday ended narrowly mixed.  Stocks saw support from a -3.6 bp decline in the 10-year T-note yield and from some positive corporate news.  KeyCorp rose more than +9% after announcing Scotiabank entered an agreement to acquire a 14.9% pre-forma stake for a minority investment in KeyCorp. Also, Monday.com rose nearly +15% after reporting Q2 adjusted EPS well above the consensus.  Starbucks rose +2.7% after the Wall Street Journal reported that activist investor Starboard Value has taken a stake in the company.

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