Stock Market Today: Live Updates

After a record week, U.S. stocks were trading near flat early Monday. S&P500. Investors also focused on key inflation data and earnings.

The overall market index is Dow Jones Industrial Average.of Nasdaq Composite It fell 0.1%.

sales force Cloud-based software stocks fell 1%, the biggest drag on the Dow Jones Industrial Average.shares of hershey The stock fell more than 2% after Morgan Stanley downgraded the stock to underweight due to slowing demand. on the other hand, diamondback energy The stock rose 7% after announcing it would buy oil and gas producer Endeavor Energy Partners.

On Friday, the S&P 500 closed above 5,000 for the first time in history. The broader index is now up more than 5% since the beginning of the year.

All three major averages have been rising for five consecutive weeks, and the S&P 500 and Nasdaq Composite Last week they added 1.4% and 2.3%, respectively.of Dow It’s only slightly higher.

“U.S. stocks are currently pricing in a lot of good news, but we think the bull run is well supported,” said Mark Hefele, chief investment officer at UBS Global Wealth Management. Stated. The S&P 500 has now gone more than 70 trading days without experiencing a 2% decline, according to Bespoke Investment Group.

Approximately 61 companies in the S&P 500, including gig economy stocks, are scheduled to announce their financial results next week. lift, instacart and door dash.companies such as autonation, Kraft Heinz, hasbro and coca cola The current state of American consumers will also be revealed.

Traders will also be keeping an eye on the latest levels of the consumer price index (CPI, a key inflation indicator) due to be released on Tuesday morning. More important economic data will be released on Thursday and Friday, including January retail sales, production, imports and exports, housing starts and the Producer Price Index (PPI).

“CPI and PPI should be released in unison, but we should still be bullish,” Jay Hatfield of Infrastructure Capital Advisors told CNBC. “We think markets will continue to rally over the next week or two, but may stall as we continue to wait for inflation data to be released.”