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U.S. Stocks Stagnate as Inflation Data and Fed Minutes Awaited

At 9:43 ET, the Dow Jones Industrial Average increased by 55 points (0.1%), while the S&P 500 remained flat and the NASDAQ Composite decreased by 0.3%. Investors are eagerly awaiting this week's consumer price data and the Federal Reserve's latest meeting minutes.

Monitors showing U.S. stock markets
Monitors showing U.S. stock markets

Anticipation of Key Consumer Price Data

Market participants look forward to crucial consumer price data, which may influence the Fed's decisions during its policy meeting in May.

Shifting Sentiments on Interest Rates

Previously, tech stocks drove the market higher with hopes of the Fed pausing rate hikes. However, the sentiment is changing, with futures traders betting on a quarter-percentage point interest rate increase next month.

Inflation and Core Prices Expected to Rise

Analysts predict that Wednesday's consumer price index will show a 5.2% annual increase for the year through March after a 6.0% annual rise in February. Core prices, excluding food and fuel, are expected to rise by 5.6%, slightly faster than in February.

Upcoming Earnings Reports from Major Banks

This week, major banks like JPMorgan, Citigroup, and Wells Fargo will release their first-quarter earnings reports. Analysts will pay close attention to statements on credit conditions and consumer behavior.

S&P 500 Companies' Expected Profit Drop

S&P 500 companies are expected to report a 5.2% drop in first-quarter profit compared to last year's period, as expectations are lowered.

Notable Stock Movements

Coinbase Global Inc shares increased by 3.7% after Bitcoin surpassed $30,000 for the first time in 10 months. CarMax Inc shares rose 8.9% following the used-car seller's better-than-expected quarterly profit.

Oil and Gold Prices Climb

Crude Oil WTI Futures increased by 0.4% to $80.06 a barrel, Brent Oil Futures rose by 0.2% to $84.34 a barrel, and Gold Futures were up by 0.6% to $2015.