Mon, 26 Sep 2022

Wall Street wobbles ahead of this week's CPI data

Lola Evans
09 Aug 2022, 06:20 GMT+10

NEW YORK, New York - U.S. stocks closed mixed on Monday as investors fret about CPI data due to be released on Wednesday.

"The CPI data will help to confirm if the Fed's tightening efforts have been successful in starting to tame inflation or if continued Fed tightening is needed," Robert Schein, chief investment officer at Blanke Schein Wealth Management, told Reuters Monday.

The Dow Jones industrials edged up 29.097 points or 0.09 percent to 12,832.54.

The Nasdaq Composite declined 13.10 points or 0.10 percent to 12,644.45.

The Standard and Poor's 500 dipped 5.13 points or 0.12 percent to 4,140.06.

The U.S. dollar was little changed. The euro was trading at 1.0195 around the New York close Monday. The British pound weakened slightly to n1.2081. The Japanese yen was soft at 135.02. The Swiss franc was unmoved at 0.9557.

The Canadian dollar rose to 1.2859. The Australian dollar was being bought up at 0.6984. The New Zealand dollar appreciated to 0.6285.

On overseas equity markets, the German Dax jumped 0.84 percent. The Paris-based CAC 40 increased 0.80 percent. In London, the FTSE 100 rose 0.57 percent.

In Japan, the Nikkei 225 gained 73.37 points or 0.26 percent to 28,249.24.

China's Shanghai Composite advanced 9.20 points or 0.13 percent to 7,259.50.

The Australian All Ordinaries added 9.20 points or 0.13 percent to 7,259.50.

South Korea's Kospi Index edged up 2.30 points or 0.09 percent to 2,493.10.

Going against the trend, the S&P/NZX 50 declined 25.66 points or 0.22 percent to 11,702.81. The Hang Seng in Hong Kong closed down 156.17 points or 0.77 percent at 20,045.77.

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