The S&P 500 retreated from a six-week high, starting on the back foot a week in which investors will receive the latest readings on the state of the US consumer via inflation data and results from major retailers.
Wall Street’s benchmark index ended Monday fractionally lower, with financial stocks the worst-performing sector on the day. The tech-heavy Nasdaq Composite added 0.3 per cent, with four of the Magnificent Seven stocks rising. The small-cap focused Russell 2000 rose 0.1 per cent.
Treasury prices rose, pushing the yield on the two-year note slightly lower to 4.87 per cent, and the yield on the 10-year note down 0.02 percentage points at 4.49 per cent.
