by Chuck Mikolajczak
NEW YORK (Reuters) – The New York Stock Exchange ended slightly lower on Monday awaiting the publication of economic data on inflation, consumer confidence and manufacturing activity which could influence the expected drop in rates of interest by the Fed.
The Dow Jones index fell 0.16%, or -62.30 points, to 39,069.23 points.
The broader Standard & Poor’s 500 lost -19.27 points, or 0.38% to 5,069.53 points.
The Nasdaq Composite fell -20.57 points (0.13%) to 15,976.251.
Thursday’s expected release of the PCE price inflation index in the United States, the FED’s preferred gauge, could dampen recent enthusiasm if data shows that price pressure is not falling quickly enough.
Markets ruled out an interest rate cut by the Fed at its March meeting and pushed back expectations for May-June easing, according to the CME’s FedWatch tool.
Data on consumer confidence and manufacturing activity are due out later in the week.
In values, Alphabet, Google’s parent company, fell after announcing its intention to relaunch its artificial intelligence tool in the coming weeks.
Domino’s Pizza ended up on the back of fourth-quarter like-for-like sales that were higher than expectations.
(Reporting by Zhifan Liu)
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