The major averages in the overnight markets were choppy all through the day and finished the session narrowly mixed. While the Dow dipped 140.53 points or 0.4 percent to 39,357.01, the S&P 500 inched up 0.23 points or less than a tenth of a percent to 5,344.39 and the Nasdaq rose 35.31 points or 0.2 percent to 16,780.61. Investors now turn attention to producer and consumer price inflation on Tuesday and Wednesday, respectively, with the data likely to impact the outlook for interest rates.
Stock specific, Nvidia shares rose 4% as the chipmaker aimed to move past concerns about its next-generation processors. Qualcomm slipped 1% after being downgraded from Outperform to Peer Perform. JetBlue Airways plunged 20.7% after announcing plans to borrow $2.75 billion, using its loyalty program as collateral.
Meanwhile, US treasuries moved higher over the course of the trading session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3.3 basis points to 3.909 percent. The dollar index pulled back slightly below 103 mark.
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