U.S. equities slipped at the open on Monday as investors navigated rising geopolitical tensions and the prospect of fresh inflation data later in the week.
The Dow Jones Industrial Average fell 15.1 points, or 0.03%, to 53,261.95, while the S&P 500 declined 11.0 points, or 0.14%, to 7,663.38. The Nasdaq Composite dropped 115.1 points, or 0.44%, to 26,065.32.
Sentiment was dampened by a U.S. pledge to impose an "economic D-Day" on Iran, escalating concerns over potential disruptions to global trade and energy markets. The warning underscored the risk of retaliatory measures in a region critical to oil supply chains.
All eyes remained on Nvidia, the AI chipmaker, as investors awaited its quarterly earnings report, expected to provide further insight into the pace of artificial intelligence adoption and its impact on corporate spending. The company’s results are seen as a bellwether for the broader tech sector’s growth trajectory.
The week’s broader focus will center on Friday’s U.S. personal consumption expenditures (PCE) price index, a key inflation gauge closely monitored by the Federal Reserve. Traders positioned positions ahead of the data, which could influence expectations for interest rate adjustments at the central bank’s upcoming policy meetings.
