US stocks edged down on Monday at the start of a busy week with corporate earnings and economic data.
The Dow Jones Industrial Average fell 57 points, or 0.2%, to 33744. The S&P 500 was little changed and the Nasdaq Composite was down 0.2%.
Investors have said they are positioning themselves for the start of the earnings season, along with data that will help assess whether a next surge in inflation will prove to be transient.
Among the reports expected this week include those from JPMorgan Chase, Bank of America and Wells Fargo – and companies ranging from Delta Air Lines to PepsiCo to UnitedHealth Group. Meanwhile, inflation data expected on Tuesday should show that consumer prices picked up in March.
“All of these things need to deliver strong enough results for the current gains to remain intact,” said Edward Park, chief investment officer of UK investment firm Brooks Macdonald.