(Reuters) – The New York Stock Exchange opened lower on Monday as investors remained cautious ahead of the release of inflation figures, from which they hope to draw clues on how long the Federal Reserve will keep interest rates at a high level.

In early trading, the Dow Jones index lost 44.70 points, or 0.13%, to 34,238.40 points and the broader Standard & Poor’s 500 fell 0.28% to 4,403.05 points.

The Nasdaq Composite, which reached a two-month peak on Friday thanks to a drop in Treasury bond yields, lost 0.41%, or 55.97 points, to 13,742.13.

Investors, looking for new clues on the direction of interest rates, are focusing on a series of economic data expected later in the week, including US inflation on Tuesday.

Data is expected to show that consumer price inflation slowed to 3.3% in October, from 3.7% in September.

The main US stock indices rebounded strongly in November, driven by better-than-expected corporate results and hopes that interest rates are near their peak.

The week also begins with the specter of a partial closure of the federal government (“shutdown”) on Friday, the measure proposed this weekend by the Speaker of the House of Representatives, Mike Johnson, to finance certain parts of the budget being quickly met with opposition from members of Congress.

However, concerns over government spending and Moody’s downgrade of the U.S. credit rating outlook last Friday have had little impact on the market so far. .

In terms of values, Boeing gained 3.7% while Emirates announced on Monday that it had ordered 90 Boeing 777Xs and added five Boeing 787s to an existing order. Bloomberg further reported that China plans to resume purchases of 737 Max planes at the Asia-Pacific Economic Cooperation (Apec) forum summit scheduled for this week in San Francisco.

(Writing by Diana Mandiá, editing by Kate Entringer)

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