Stocks gave up earlier gains to hug the flatline Monday as bond yields rose, kicking off a big week filled with a Federal Reserve rate decision, the monthly jobs report, and earnings from more "Magnificent Seven" tech heavyweights. The S&P 500 briefly fell into negative territory after gaining as much as 0.4%. The tech-heavy Nasdaq Composite was little changed after gaining as much as 0.5% as Tesla shares surged amid upbeat China news.
While the central bank is expected to hold rates steady at a 23-year high, debate is raging over the timing and even likelihood of a cut in 2024. In focus is whether Fed policymakers will backtrack on their earlier projection for a significant easing in borrowing costs. Traders have already scaled back their bets, and the April jobs report that rounds off the week could move the needle again.
Nederland Laatste Nieuws, Nederland Headlines
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