Stocks waver in lead up to data deluge; CPI in focus

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Aug 12 - U.S. stocks struggled for direction on Monday as investors braced for a slew of economic data this week with their focus on U.S. consumer prices to gauge the outlook on the Federal Reserve's monetary policy path.

Both the S&P 500 , and the Nasdaq Composite , recouped most of their losses by the end of last week, after the benchmark index suffered its biggest one-day percentage drop in nearly two years on fears of recession and the unwinding of currency carry trade positions involving the yen. Figures for July U.S. retail sales on Thursday are likely to show marginal growth, and investors expect that any weakness in the data could reignite fears of a consumer slowdown and a potential recession.

Fed Governor Michelle Bowman softened her usually hawkish tone ever so slightly on Saturday, noting some further"welcome" progress on inflation in the last couple of months but said inflation remains"uncomfortably above" the central bank's 2% goal and subject to upside risks. Starbucks , climbed 3.5% on reports that activist investor Starboard Value, which holds a stake in the coffee giant, wants the company to take steps to improve its stock price.

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