Money Flow – U.S. stocks were mixed on Monday as investors scanned a series of earnings reports to get a sense of the impact of higher inflation on companies and consumers.

The S&P 500 fell 5.13 points, or 0.1%, to 4,140.06. The Nasdaq Composite fell 13.10 points, or 0.1%, to 12,644.46. The Dow Jones Industrial Average added 29.07 points, or 0.1%, to 32,832.54.

Shares of technology giant Nvidia fell $11.96, or 6.3%, to $177.93 after it reported preliminary quarterly revenue below analysts’ estimates. The company said it expects challenging market conditions to continue in the third quarter. Shares of Palantir Technologies lost $1.63, or 14%, to $9.82 after it issued guidance that missed Wall Street estimates.

Stocks have wobbled in recent days, affected by changing views on central bank policy. Friday’s better-than-expected jobs report divided investors and analysts. Some have expressed concern that the Federal Reserve may continue to raise interest rates aggressively, while others have questioned whether the U.S. economy may actually be in recession.

Trading volumes also tend to be lower in August while many traders take summer vacations, which can lead to big moves, analysts said. Investors await US inflation data for July on Wednesday, a key announcement expected to give more guidance to markets.

The yield on the benchmark 10-year Treasury note fell to 2.763% from 2.838% on Friday. The inverted yield curve continued to signal a recession, with the two-year yield at 3.214%.

Tesla shares added $6.76, or 0.8%, to $871.27. The US Senate passed a bill on Sunday to spend billions of dollars on climate change, including extending tax incentives for electric vehicles.

Shares of Signify Health jumped $2.18, or 11%, to $22.05, after news that pharmacy chain CVS Health plans to bid for the company. Shares of Global Blood Therapeutics rose $2.76, or 4.3%, to $66.60 after Pfizer agreed to buy the company for $5.4 billion.

Global benchmark Brent crude rose 1.8% to $96.65 a barrel.

The Stoxx Europe 600 ended 0.7% higher.

In Asia, headlines were mixed. The Shanghai Composite index added 0.3 percent, while Hong Kong’s Hang Seng index fell 0.8 percent. Japan’s Nikkei 225 added 0.3%.

 Dealer Anatoliy Pavlov

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