US stocks fell in early deals on Wall Street Monday as
markets cool down following their biggest weekly gain since the summer. The
S&P fell 23.91 points or 0.60% as of 9.49 am Eastern time. The Dow Jones
Industrial Average fell 24.05 points or 0.1% to 33,723.81. The Nasdaq fell
142.13 points or 1.26% to 11,181.

The benchmark S&P 500 index had more gainers than
losers but was pulled down by technology stocks, which helped lead the market
higher last week. Microsoft lost 2.4% and Apple fell 1.2%.

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Bond yields gained. The yield on the 10-year Treasury,
which helps determine mortgage rates, rose to 3.87% from 3.81% late Thursday.
Bond markets were closed on Friday for Veterans Day.

US crude oil prices decreased by 1.1%. Crytpo-related
stocks remained volatile following the implosion last week of FTX, a major
crypto trading exchange. Coinbase, another crypto exchange platform, tumbled
7.6%.

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Investors are looking for more data this week that could
give them more insights into whether the hottest inflation in four decades is
easing and how consumers are handling high prices.

On Tuesday, the government will release its October report
on inflation at the wholesale level, which analysts forecast to have fallen
slightly to 8.3% year-on-year from September’s 8.5%. That comes on the back of
last week’s report on consumer prices showing that inflation eased more than
economists anticipated in October.

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Investors are expecting that more data showing inflation
cooling means the Federal Reserve can be less aggressive about raising interest
rates to control soaring prices.

Economists expect the Fed to hike its benchmark interest
rate in December but by only half a percentage point following four hikes of
0.75 percentage points, three times the usual margin.

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Wall Street will also receive an important update on
consumer spending on Wednesday with the government’s retail sales report for
October.

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Several major retailing companies are reporting their
latest financial results this week. Home Depot and Walmart report earnings on
Tuesday. Target reports its quarterly results on Wednesday and Macy’s reports
results on Thursday.