US Stock Market: DJIA, S&P500 and Nasdaq red in early trade on Monday

US stocks were mixed in morning trading on Wall Street Monday ahead of the latest round of corporate earnings reports and a busy week of inflation updates.

The S&P 500 fell 2.55 points or 0.07% to 3,637.11 as of 10.31 am Eastern Time. The Dow Jones Industrial Average rises 105.71 points, or 0.03%, to 29,402. The Nasdaq fell 48.00 point or 0.7% to 10,604.40.

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Major indexes are coming off a choppy week where they witnessed gains because of an early two-day rally that shielded stocks from several weak days. US bond trading was closed.

Technology stocks were among the biggest losers in the market. Makers of semiconductors and chip manufacturing equipment also witnessed heavy losses after the US government tightened export controls to limit China’s ability to get advanced computing chips, develop and maintain supercomputers, and built advanced semiconductors. Nvidia slipped 4%.

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Industrial stocks made some of the biggest gains and helped limit losses. Boeing gained 2.4% after reports that a 737 Max flight from Mongolia landed in China.

Investors have been concerned about record-high inflation and the Federal Reserve’s plan to control prices by raising interest rates. The target is to slow economic growth and cool both borrowing and spending to get inflation under control.

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Wall Street will get a more detailed picture of the Fed’s view on Wednesday when the central bank releases minutes from its latest policy meeting. The Fed hiked its key interest rates by 75 basis points.

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On Wednesday, the government will release its report on producer prices, which will provide for inflation on the wholesale level for businesses. Investors are closely watching for the report on consumer prices will be released on Thursday, A report on retail sales will be released on Friday.