US stocks edged lower on Monday as investors braced for a Federal Reserve policy decision and key inflation data in the week ahead, with Nvidia (NVDA) and Apple (AAPL) events in immediate focus.
The Dow Jones Industrial Average (^DJI) hovered just below the flatline, coming off a muted end to a winning week for the three major gauges. The S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) each fell around 0.2% and 0.3%, respectively.
Stocks are treading water after signs of strength in a mixed May nonfarm payrolls report reinforced bets that the Fed will keep interest rates at a two-decade high for longer. Trader expectations for a cut in September have fallen, while those for November have risen, according to the CME FedWatch tool.
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Investors are now looking ahead to the Fed's next rate decision and May's Consumer Price Index inflation reading, both due on Wednesday, that will provide another big test for stocks.