US stocks close mixed session as DJIA snaps five-day losing streak 

The closely watched consumer price index will be released on Tuesday

new york wall street

4:05pm: US equities end mixed but Dow shines

US stocks closed a mixed session as the Dow Jones Industrial Average snapped a five-day losing streak. 

On the day, the DJIA increased by 262 points, or 0.76%, to 34,869, while the S&P 500 rose 0.23% to 4,468. 

But the tech-heavy Nasdaq dropped a slight 0.07% to 15,105.

12.25 pm: Stocks mostly higher, but Nasdaq struggles to shake off losing streak 

Stocks were mostly higher mid-day Monday, with the major equity averages looking to recover some losses after five straight sessions of declines.

The Dow added more than 260 points, or 0.7% in afternoon trading. Similarly, the S&P 500 also rose, but the tech-heavy Nasdaq was still weighed down, struggling to shake off its losing streak. The Nasdaq was down 19.71 points, or 0.1% to trade at 15,095.78 points.

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9.30am : US stocks start higher

US stocks started higher on Monday, as expected, as markets bounced back from recent losses.

Shortly after the New York bell, The Dow Jones Industrial Average added nearly 216 points at 34,823, while the S&P 500 gained over 25 points to stand at 4,484.

The technology laden Nasdaq added around 41 points at 15,156.

"Although the economic calendar is quite quiet today, we have seen oil prices rising further with WTI closing in on $71 handle, and aluminium hitting its highest level in 13 years. These only add to rising input costs, potentially leading to further consumer inflation as producers pass on the extra costs." noted Fawad Razaqzada, analyst at thinkmarkets.com.

"Inflation concerns will remain in focus this week, with US CPI out on Tuesday. Depending on the outcome of this, traders’ expectations about the timing of stimulus withdrawal will be adjusted again, potentially leading to some volatility," he added.

7.15am: US stocks seen starting higher

US indices are seen staging a bounce-back on Monday after a lower close on Friday as traders fret about a number of factors, including the pandemic and inflation.

In futures trade today, the Dow Jones Industrial Average gained over 235 points, while the S&P 500 index is up 27.5 points. The tech laden Nasdaq index is up around 83 points.

Last week, all three major benchmarks finished lower on Friday, with the Dow Jones and S&P posting a fifth straight day of losses and the Nasdaq logged its third consecutive negative session. For the broad-based S&P 500, that was the worst losing streak since February this year.

Commentators have pointed to inflation fears as being a contributor to recent investor worries. Official data released on Friday showed that producer prices rose 0.7% in August and 8.3% year-over-year - the biggest annual increase since records began in 2010.

On today's trade, Joshua Mahony, senior market analyst at online trading group IG, said earlier: "While we are used to seeing US markets lead the way, there is a feeling that we could see greater catch-up for Europe as high vaccination levels keep deaths relatively stable.

"Today sees a relatively slow start to the week, with precious few economic releases of note. However, with key US and UK inflation data released over the coming days, the monetary policy outlook comes back into play once again."

Five more things to watch:

Tesla Inc (NASDAQ:TSLA), the electric car giant, has announced that it is going to increase the price of its Model Y Performance car in China by $1,552. According to the Chinese microblogging website Weibo, the new price of Model Y reportedly will be RMB 387,900.

Wall Street expects computer giant Oracle Corp to report quarterly earnings at $0.97 per share on revenue of $9.77 billion after the closing bell

The US Treasury budget statement for August will be released at 2pm ET. Analysts expect a monthly deficit of $303.5 billion for August versus a deficit of $124.6 billion a year ago.

Analysts expect Matrix Service Company to post a quarterly loss at $0.02 per share on revenue of $177.17 million after the closing bell.

Apple's chip supplier Taiwan Semiconductor Manufacturing Co is reportedly planning to build an advanced semiconductor manufacturing facility in South Taiwan.

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