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Stock market today: Wall Street drifts around its records in early trading

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NEW YORK (AP) — U.S. stocks are drifting around their records ahead of a week that could cement expectations for a coming cut to interest rates by the Federal Reserve. The S&P 500 slipped 0.

NEW YORK — U.S. stocks are drifting around their records ahead of a week that could cement expectations for a coming cut to interest rates by the Federal Reserve. The S&P 500 slipped 0.1% in early trading Monday, coming off its 57th all-time high of the year so far. The Dow Jones Industrial Average edged up 37 points, and the Nasdaq composite was flat. Nvidia fell following reports that China is probing it for potential antitrust violations.

That added to uncertainty in a region fraught with conflict. U.S. benchmark crude oil jumped 84 cents to $68.04 per barrel in electronic trading on the New York Mercantile Exchange.There was little in the way of corporate news early Monday with earnings season mostly wrapped up heading into the holidays and new year.

Shares of The Interpublic Group of Companies soared 14.8% after the advertising company announced that it was being acquired by another industry giant, Omnicom. The all-stock deal is expected to close in the second half of 2025. Omnicom shares fell close to 3% before the bell Monday. Hong Kong shares bounced higher after top Chinese leaders met and agreed on a “moderately loose” monetary policy, shifting away from a more cautious “prudent” stance for the first time in 10 years.

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