Choppy moves in US stocks ahead of inflation data

The US stocks showed a choppy pattern yesterday and closed narrowly mixed. The Nasdaq and the S&P 500 had been poised to set new record closing highs but pulled back into negative territory in afternoon trading. While the Nasdaq dipped 48.12 points or 0.3 percent to 15,942.55 and the S&P 500 edged down 4.77 points or 0.1 percent to 5,021.84, the Dow rose 125.69 points or 0.3 percent to a record closing high of 38,797.38. No economic cues were on the offer yesterday. Investors also looked ahead to the release of US CPI data and speeches by Federal Reserve officials due this week for fresh clues on when the Federal Reserve is likely to begin cutting interest rates. Reports on retail sales, industrial production, producer price inflation and consumer sentiment are also likely to attract attention later in the week.

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