scorecardUS stocks trade slightly lower as investors await slew of economic data
  1. Home
  2. stock market
  3. news
  4. US stocks trade slightly lower as investors await slew of economic data

US stocks trade slightly lower as investors await slew of economic data

Matthew Fox   

US stocks trade slightly lower as investors await slew of economic data
Stock Market2 min read
  • US stocks traded slightly lower on Monday as investors shifted their focus away from earnings and towards macro data.
  • The Fed's preferred measure of inflation will be released later this week, as will revised fourth-quarter GDP data.
  • Investors will also be paying attention to comments from Fed Presidents, looking for any clues about interest rate cuts.

US stocks traded slightly lower on Monday as investors shifted their focus to a slate of macroeconomic data points on the horizon this week.

With 90% of S&P 500 companies having reported fourth-quarter results, the results have impressed investors. So far, 78% of companies beat profit estimates by a median of 7%, while 65% of companies beat revenue estimates by a median of 5%, according to data from Fundstrat.

Now, as the earnings tide rolls out, investors are looking forward to a week full of fresh economic data.

On the radar this week is revised fourth-quarter GDP data, set to be released Wednesday morning. Set to roll out on Thursday is Personal Consumption Expenditures data, which is the Federal Reserve's preferred inflation gauge.

Finally, investors will be paying attention to comments from five Fed Presidents later in the week, listening for any clues about when the Fed might cut interest rates.

Here's where US indexes stood at the 4:00 p.m. closing bell on Monday:

Here's what else happened today:

In commodities, bonds, and crypto:

  • West Texas Intermediate crude oil jumped 1.65% to $77.75 a barrel. Brent crude, the international benchmark, rose by 1.30% to $82.68 a barrel.
  • Gold declined by 0.32% to $2,042.80 per ounce.
  • The 10-year Treasury yield rose 3 basis points to 4.28%.
  • Bitcoin jumped 5.43% to $54,537.



Advertisement