Wall Street ends near flat ahead of inflation data

The struggle for a clearer direction comes after a rally on Friday, when U.S. jobs data pointed to a resilient labor market.

"Whenever you have a big up day, people need more good news to keep the market up every day in a row," said portfolio manager Moez Kassam of Anson Funds. The spotlight this week will be on the Labor Department's inflation reading on Wednesday, which is expected to show the consumer price index likely climbed 0.4% in April after gaining 0.1% in March. Producer prices, weekly jobless claims and consumer sentiment data are all lined up for the week.

"The bigger picture is inflation will remain higher for longer and that we are heading into a recession," Michael James, managing director of equity trading at Wedbush Securities. "Whether that's hard or soft remains to be seen, but until there's something to disprove that bigger picture thesis, the overall market is going to remain somewhat range bound."

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