WASHINGTON (dpa-AFX) - Stocks have shown a lack of direction over the course of the trading session on Monday, with the major averages bouncing back and forth across the unchanged line.
Currently, the major averages are posting modest losses. The Dow is down 88.33 points or 0.2 percent at 47,059.15, the Nasdaq is down 27.44 points or 0.1 percent at 22,873.15 and the S&P 500 is down 11.10 points or 0.2 percent at 6,723.01.
The choppy trading on Wall Street comes as traders seem reluctant to make significant moves as they await the release of U.S. economic data that was delayed due to the recently ended government shutdown.
The Commerce Department kicked off the release its delayed data this morning with the release of a report unexpectedly showing a modest increase by construction spending in the month of August.
Reports on factory orders and the U.S. trade deficit in August are also due to be released in the coming days along with the monthly jobs report for September.
While the reports will be more backward looking than traders would prefer, the data could still impact the outlook for interest rates ahead of the Federal Reserve's next monetary policy meeting in December.
CME Group's FedWatch Tool is currently indicating a 57.1 percent chance the Fed will leave rates unchanged next month and a 42.9 percent chance of another quarter point rate cut.
AI darling and market leader Nvidia (NVDA) is also in focus ahead of the release of its third quarter financial results after the close of trading on Wednesday.
The strength of Nvidia's results and its guidance could have a significant impact on the markets amid recent concerns about AI valuations.
Sector News
Reflecting the lackluster performance by the broader markets, most of the major sectors are showing only modest moves on the day.
Airline stocks have shown a significant move to the downside, however, with the NYSE Arca Airline Index falling by 1.6 percent.
Brokerage, housing and retail stocks are also seeing notable weakness, while biotechnology stocks have shown a strong move to the upside.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance on Monday. Japan's Nikkei 225 Index edged down by 0.1 percent and China's Shanghai Composite Index fell by 0.5 percent, while South Korea's Kospi shot up by 1.9 percent.
Meanwhile, most European stocks have moved to the downside on the day. While the German DAX Index is down by 0.9 percent, the French CAC 40 Index is down by 0.4 percent and the U.K.'s FTSE 100 Index is just below the unchanged line.
In the bond market, treasuries are regaining ground after moving lower over the two previous sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 1.3 basis points at 4.135 percent.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
