Wall Street today: US stocks decline marginally as investors brace for inflation data

US stocks declined marginally on Monday after opening higher as investors brace for a deluge of economic data including consumer price inflation.

At 9:45 a.m. ET, the Dow Jones Industrial Average was down 0.3 per cent at 39374.38 points, the S&P 500 fell 0.2 per cent to 5336.22 points, while the Nasdaq Composite was down 0.06 per cent at 16734 points.

At the opening bell, the Dow Jones Industrial Average was up 0.02 per cent at 39,500 points. The S&P 500 was up 0.24 per cent at 5356.23 points, while the Nasdaq Composite rose 0.45 per cent at 16820 points.

This week will feature reports on inflation, retail sales, and industrial production among others.

Last week witnessed rout in the stock markets on worries about recession in US economy.

Shares of electric vehicle maker Tesla fell over 1 per cent.

Starbucks stock climbed 3.5 per cent on reports that activist investor Starboard Value wants the company to take steps to improve its stock price.

KeyCorp stock jumped 15.3 per cent after the regional bank announced a $2.8 billion investment from the Bank of Nova Scotia.

In the bond market, the yield on the 10-year Treasury edged up to 3.9 per cent % from 3.94 per cent late on Friday. The 2-year Treasury yield rose to 4.07 per cent from 4.06 per cent.

Bullion

Gold prices rose to a one-week high on Monday on safe-haven demand.

Spot gold gained 0.9 per cent to $2,453.77 per ounce as of 1350 GMT. US gold futures added 0.8 per cent to $2,493.90. Spot silver rose 1.4 per cent to $27.82 per ounce.

Crude oil

Oil prices advanced for a fifth consecutive session on Monday, on Middle East supply risks worries.

Brent crude futures were up 88 cents, or 1.1 per cent, at $80.54 a barrel by 1319 GMT while US West Texas Intermediate crude futures rose $1.06, or 1.38 per cent, to $77.90.