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Investing.com — U.S. stocks were mixed to start the week as investors looked forward to consumer price data and the minutes of the Federal Reserve’s last meeting.
At 9:45 ET (13:45 GMT), the Dow Jones Industrial Average was up 115 points, or 0.4%, while the S&P 500 was flat and the NASDAQ Composite was down 0.4%.
In the U.S. the bond market is closed Monday for Columbus Day and Indigenous Peoples’ Day, and markets in Japan, South Korea and Canada are closed for holidays.
The minutes of the Fed’s September meeting could give some extra glimpse of how the policymakers are thinking as they try to tame inflation without setting off a recession, though Fed officials have talked in recent weeks about their determination to get inflation under control.
Wall Street tumbled on Friday after the September report on jobs was stronger than expected, giving the Fed reason to continue its aggressive rate hikes. Markets are predicting a nearly 90% chance of another 0.75 percentage point increase in November, Reuters reported.
Also today, there will be public appearances by Chicago Fed President Charles Evans and Fed Vice Chair Lael Brainard.
Big banks will start to report their third-quarter earnings later this week as investors worry about the effect of rising rates on company revenue and profit, and in the case of banks, on the quality of their loan books.
JPMorgan Chase & Co (NYSE:JPM) shares rose 1% on Monday, while Morgan Stanley (NYSE:MS) rose 0.5% and Citigroup Inc (NYSE:C) shares rose 0.3%.
Oil rose. Crude Oil WTI Futures was up 0.6%, to $93.17 a barrel, while Brent Oil Futures was up 0.4% to $98.24 a barrel. Gold Futures fell 1.7% to $1682.
