December 9, 2024 – 7:05 AM PST
(Reuters) – The S&P 500 and the Nasdaq were slightly lower on Monday after notching record closing highs in the previous session, as losses in chip stocks including Nvidia weighed, while investors awaited a key inflation report this week.
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The consumer prices index (CPI) data due on Wednesday is among the last major datasets ahead of the Federal Reserve’s Dec. 17-18 meeting and could influence the central bank’s monetary policy path.
“The thing to watch will be any hint or evidence that core CPI might moderate into 2025 because the Fed will have a hard time continuing to cut at the pace they’re on now,” said Ross Mayfield, investment strategist at Baird.
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