The US stocks moving higher, according to economic data slated for this week.
U.S. stocks were edging higher early Tuesday morning after slipping Monday and losing some momentum after rallying last week on easing expectations for the path of the Federal Reserve'sFederal Reserve's interest rate increases.
The S&P 500 lost early gains, closing down 11.63 points, or 0.3%, at 3900.11. The Dow Jones Industrial Average fell 62.42 points, or 0.2%, to 31438.26, while the technology-focused Nasdaq Composite Index fell 83.07 points, or 0.7%, to 11524.55.
With low volumes and investors in a holding pattern, with few moving around money, traders described Monday as a quiet day. Weaker-than-expected U.S. economic data has caused investors to reassess their expectations for monetary-policy tightening from the Federal ReserveFederal Reserve.
The S&P 500 was a bear market this year, or a 20% drop from a recent peak, due to the Fed's plans to raise rates and tame inflation.
Recent reports indicate that the U.S. economy is beginning to cool off, and possibly inflation. The latest evidence came Friday as the University of Michigan revised its June reading of inflation expectations over the next five to 10 years - to 3.1% from 3.3%.
Jun Rong Yeap, of IG, said that the U.S. consumer confidence data is on the agenda in a week with few other major economic releases, leading some investors to adopt a wait and see stance.
In Tokyo, Seoul and Sydney, benchmarks went up but fell in Hong Kong and Shanghai. Tokyo's Nikkei 225 index increased by 0.3% to 26,959. The Kospi in Seoul rose 0.3% to 2,408 on 17 September, while the Kospi went up 0.3%, to 2,408. Hong Kong's Hang Seng index lost 0.9% to 22,033. The Shanghai Composite Index, 62 and the Shanghai Composite Index were nearly unchanged at 3,379. The shares fell in Taiwan and India but rose in Bangkok.