The S&P 500 Index ($SPX) (SPY) Monday closed down -0.12%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.25%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.42%.
Stock indexes on Monday settled moderately lower. The S&P 500 on Monday fell back from a new all-time high as stocks consolidated recent gains. The markets are awaiting Fed Chair Powell’s semiannual monetary policy testimony to a House committee on Wednesday and a Senate panel on Thursday for clues to the path of Fed policy. Powell is expected to maintain his hawkish stance and signal the Fed is in no hurry to cut interest rates. Also, Friday’s monthly U.S. payroll report will garner attention to see if the labor market remains strong and if wage pressures are contained.
