NEW YORK — Wall Street is opening on a quiet note following its latest winning week. The S&P 500 was up 0.1% in early trading Monday. The Dow Jones Industrial Average was little changed, and the Nasdaq composite was up 0.2%. Momentum is calming after all three indexes set records last week. They scorched higher on revived hopes that the Federal Reserve will be able to cut interest rates this year because of a cooldown in inflation. More reports showing big U.S.
Investors this week will be taking in more retail earnings data as reporting season winds down. Lowe's, Target and TJX Cos. all report later this week. So will chipmaker Nvidia, whose shares are up 87% this year on soaring demand for its semiconductors, which are used to power artificial intelligence applications.
On Wednesday, the Federal Reserve releases minutes from its most recent meeting, when it left its main lending rate alone for the sixth straight time. The hope is that the Fed can pull off the balancing act of slowing the economy enough through high interest rates to stamp out high inflation but not so much that it causes a bad recession.
The Hang Seng in Hong Kong added 0.3% to 19,608.30, with its property index up 0.3%. Country Garden Holdings, one of many financially troubled developers, saw its U.S.-listed shares surge 18.5% on Friday after the policy was announced.On Monday, China's central bank left the one- and five-year loan prime rate unchanged at 3.45% and 3.95%, in line with expectations.
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