U.S. stocks slip as Wall Street braces for an update on inflation
NEW YORK — U.S. stocks slipped below their record heights as Wall Street waits for an upcoming update on inflation.
The S&P 500 fell 0.2 per cent Monday and is just below its all-time high set two weeks ago. The Dow Jones Industrial Average dipped 0.5 per cent, and the Nasdaq shaved 0.3 per cent off its record.
The highlight of this week for Wall Street is likely to arrive on Tuesday, when the government will report how bad inflation was across the country in July.
A hot reading could discourage the U.S. Federal Reserve from delivering the cuts to interest rates that U.S. President Donald Trump has been demanding.
By Stan Choe
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