US stocks wavered on Monday ahead of a consequential week that could provide key signals for the near-term path of interest rates. The S&P 500 hugged the flatline, while the tech-heavy Nasdaq Composite was up 0.1% after each index notched its latest record on Friday. The Dow Jones Industrial Average erased earlier session gains to slip 0.2%.
Fed Chair Jerome Powell is set to appear in Congress for semiannual testimony on Tuesday and Wednesday. Then comes the latest Consumer Price Index print, set for release on Thursday. Economists expect headline inflation rose 3.1% over the last year, which would match the lows where the CPI started the year. In other market-moving events, a left-wing coalition in France garnered the most votes in the country's election, stunning a far-right that was hoping to secure a parliamentary majority.
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