US Stocks Drift Ahead of Pivotal Week
The US stock market is experiencing a quiet day ahead of what could be a pivotal week for stocks and bonds. The S&P 500 slipped 0.2% on Monday, falling further from its all-time high set earlier this month.
Nvidia's profit report, scheduled for later in the week, could shed light on the strength of the AI boom. Meanwhile, Federal Reserve Chairman Kevin Warsh is expected to give a speech at the annual meeting of top US economic officials in Jackson Hole, Wyoming, which may provide clues on whether interest rates will be raised to combat inflation.
The bond market has been volatile, with longer-term yields easing after oil prices dipped. However, some analysts are warning that higher borrowing costs could weigh on consumer spending and potentially slow the economy.