US stocks rose on Monday but pared earlier gains as investors shifted their focus from the fallout of Iran's attack on Israel to earnings season amid inflation risks to rate-cut hopes. The S&P 500 rose slightly while the Dow Jones Industrial Average gained 0.2% after ending the week with sharp losses. The tech-heavy Nasdaq Composite wavered between positive and negative territory.
Traders have scaled back bets on the depth of Fed interest rate cuts this year in the face of disappointing economic data. Retail sales in March increased 0.7% from the previous month, as consumers continued to spend despite a higher interest-rate environment. The monthly reading topped economist expectations for a rise of 0.4%, according to Bloomberg data.
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