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US stock indices were down on Monday after China opened a probe against Nvidia Corp and as investors awaited a key inflation report this week.
As of 10:30 am Eastern time, the S&P 500 slipped by 0.3 per cent, the Dow Jones Industrial Average was down less than 0.1 per cent, and the Nasdaq composite fell 0.3 per cent.
At the opening bell, the Dow Jones Industrial Average fell 4.5 points, or 0.01 per cent, to 44,637.97. The S&P 500 fell 7.3 points, or 0.12 per cent, to 6,083.01, while the Nasdaq Composite dropped 35.7 points, or 0.18 per cent, to 19,824.09.
A report on Consumer Price Index (CPI) for November will be released on Wednesday and Producer Price Index (PPI) data for November will be unveiled on Thursday.
AI-chip giant Nvidia’s stock slumped 2.6 per cent after China said it’s investigating the company over suspected violations of Chinese anti-monopoly laws.
Super Micro Computer rose 2.6 per cent after the company said it got an extension to keep its stock listed on the Nasdaq through February 25, as it works to file its delayed annual report and other required financial statements.
Interpublic Group shares rose 10.8 per cent after rival Omnicom said it would buy the marketing and communications firm in an all-stock deal.
Meanwhile, Omnicom stock sank 6.4 per cent.
Retailer Macy’s climbed 3.6 per cent after activist investor Barington Capital Group called on the company to buy back at least $2 billion of its own stock over the next three years.
In the bond market, the yield on the 10-year Treasury rose to 4.19 per cent from 4.15 per cent late on Friday.
Crude oil
Oil prices jumped on Monday on fresh moves by China to boost its economy and as traders tracked an uncertain future for Syria.
Brent North Sea Crude edged up 1.4 per cent at $72.09 per barrel. West Texas Intermediate rose 1.6 per cent at $68.27 per barrel.
Bullion
Gold prices hit two-week high on Monday, climbing more than 1 per cent on renewed buying of the metal by China’s central bank.
Spot gold gained 1.5 per cent to $2,673.87 per ounce, as of 9:55 am ET (1455 GMT). US gold futures added 1.4 per cent to $2,697.30.
Spot silver added 3.9 per cent to $32.21 per ounce.
