Stock market today: live updates

The Nasdaq Composite fell on Monday after the benchmark posted its third straight week of gains ahead of key inflation data this week.

The tech-heavy Nasdaq lost 0.2% and the S&P 500 lost 0.1%. The Dow Jones Industrial Average outperformed, rising 47 points or 0.1%.

Nvidia Shares fell more than 2% after a Chinese regulator said it was investigating the AI ​​chip darling for possible violations of the country’s antimonopoly law. The stock has been an indicator of the artificial intelligence industry, rising about 180% in 2024.

Last week, the broad-market S&P 500 and the tech-heavy Nasdaq closed with new records on Friday, rising 1% and 3.3%, respectively, for the week. The Dow was the only laggard, closing the week down 0.6%.

The moves come after November’s jobs report showed stronger-than-expected growth, but not so much that it could dampen investors’ hopes that the Federal Reserve will cut interest rates this month. The CME FedWatch tool shows that markets are pricing in an 85% chance that the target rate will be cut by a quarter point at the end of the meeting on December 18th.

“Everything else is working exactly the way the Fed wants it to,” Jeremy Siegel, a finance professor at the Wharton School, told CNBC’s “Closing Bell” on Friday. “I think we will have one rate cut at the December 18 meeting, but honestly I think it will only be two or three rate cuts next year. I think this strength could continue.”

The Fed is currently in a blackout period for comments on its policy meeting, but investors will get a final glimpse into its decision-making with the release of key inflation data expected this week.

November’s consumer price index, to be released on Wednesday, is expected to show a slight increase in price pressures. Economists surveyed by Dow Jones expect monthly and annual increases of 0.3% and 2.7%, respectively. That would be an increase of 0.2% and 2.6%, respectively, compared to the previous month.

On Monday, investors await October wholesale inventory data, due at 10 a.m. ET.