Stock market today: Wall Street hangs near record highs at the start of a busy week

NEW YORK — Stocks are hanging near their records at the start of a week with several influential economic reports, including the government’s monthly jobs market survey on Friday. The S&P 500 was up 0.1% early Monday, coming off an all-time high and its latest winning month. The Dow Jones Industrial Average was off 0.1%, and the Nasdaq composite was up 0.3%.

Fed Chair Jerome Powell on Friday reiterated that the central bank expects to cut interest rates this year, but won’t be ready to do so until it sees evidence that annual price increases are falling toward its 2% target. Powell will speak publicly again on Wednesday at Stanford University. Asian shares were mixed on Monday, with Shanghai gaining 1% after surveys showed improvements in manufacturing conditions in China.Tokyo’s Nikkei 225 fell 1.4%, to 39,803.09, after a Bank of Japan quarterly survey on business conditions showed sentiment among large manufacturers, which include auto and electronics giants, declined in March for the first time in a year.

“A slew of policies introduced earlier this year to stabilize growth are gradually having an effect," Wang Zhe, senior economist at Caixin Insight Group, said in a statement. Elsewhere in Asia, South Korea's Kospi edged less than 0.1% higher, to 2,747.86 and the Sensex in India was up 0.5%. In Bangkok, the SET rose 0.1%.

Brent crude, the international standard, gave up 16 cents to $86.84 per barrel. On Thursday, it surged $1.59 to $87.00 per barrel.

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