The S&P 500 and the Dow rose on Monday, recovering losses from last week.
A trader works on the floor of the New York Stock Exchange in New York City, U.S., July 7, 2023. REUTERS/Brendan McDermidChina's deflation pressure builds as consumer prices falterIndexes mixed: Dow rises 0.58%, S&P up 0.22%, Nasdaq slips 0.18%
All eyes will be on U.S. inflation data, expected on Wednesday, that will feed into the Federal Reserve's interest rate decision later in the month. A Reuters poll of economists showed they suspect that growth in consumer prices likely slowed in June. "This week has the potential to tip short-term momentum either way, depending how traders react to inflation data and the first batch of Q2 earnings," said Chris Larkin, managing director of trading and investing at E*TRADE from Morgan Stanley.reporting period kicks off this week and investors will assess the impact of tight monetary conditions and fears of an impending economic slowdown on businesses.
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