Stock market today: Wall Street hold steady at the start of a busy week

NEW YORK — U.S. stocks are holding relatively steady ahead of a week with several top-tier reports on inflation due, as well as the Federal Reserve’s latest meeting on interest rates. The S&P 500 fell 0.3% early Monday, still close to its record set last week. The Dow Jones Industrial Average was down 78 points, and the Nasdaq composite fell 0.3%. Diamond Offshore Drilling jumped after Noble agreed to buy its rival in a deal valued at roughly $1.6 billion.

A strong labor market has helped to sustain consumer spending and the broader economy, but it has also been complicating the Federal Reserve’s decision on potentially lowering interest rates. After a stronger-than-expected jobs report on Friday, investors took even more bets off the table that the Fed would cut rates at its July meeting, according to data from CME Group.

At its developers conference, Apple is expected to show how it's using AI to improve its oft-bumbling virtual assistant, Siri. The company also been rumored to be in partnership with OpenAI to bring some elements of ChatGPT to the iPhone, according to unconfirmed reports. In Europe, the euro fell after French President Emmanuel Macron dissolved the National Assembly following a setback in Sunday's parliamentary election.

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