The downward momentum for the markets comes on the heels of the release of a pair of reports showing a bigger than expected drop in housing starts and a bigger than expected increase in consumer prices.
The report said housing starts fell 6.5% to an annual rate of 1.001 million in May after jumping 12.7% to a rate of 1.071 million in April. Economists had expected starts to drop to a rate of 1.030 million.
A separate report from the
Core consumer prices, which exclude food and energy prices, increased 0.3% in May after rising by 0.2% in the previous month. Core prices had also been expected to tick up by 0.2%.
Worries about the ongoing conflict in
Nonetheless, trading activity is likely to remain somewhat subdued as traders look ahead to the Federal Reserve's monetary policy announcement Wednesday afternoon.
While the Fed is widely expected to announce another
Along with the statement, the Fed is due to provide an update to its economic projections and Fed Chair
Stocks showed a lack of direction throughout the trading day on Monday as trader weighed worries about the deteriorating security situation in
The major averages bounced back and forth across the unchanged line before closing slightly higher. The Dow ticked up 5.27 points or less than a tenth of a % to 16,781.01, the Nasdaq edged up 10.45 points or 0.2% to 4,321.11 and the S&P 500 inched up 1.62 points or 0.1% to 1,937.78.
In overseas trading, stock markets across the
The major European markets have also turned mixed on the day. While the
In commodities trading, crude oil futures are sliding
Among currencies, the US dollar is trading at
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