Wall Street ends mixed as investors await inflation data By Reuters

Wall Street ends mixed as investors await inflation data
© Reuters. Traders work at the New York Stock Exchange on September 10, 2021. Photo: Brendan McDermid/Reuters.

(Reuters) – Wall Street’s Standard & Poor’s 500 Index closed higher on Monday, reversing five straight sessions of losses, as investors focused on potential corporate tax increases and prospective economic data.

While the industrial index ended the session higher, losses in major technology stocks pushed the Nasdaq Composite Index into the red.

Market participants focus on the likely approval of US President Joe Biden’s 3.5 trillion budget package that is expected to include a proposed increase in corporate tax to 26.5 percent from 21 percent.

The US Labor Department is due to publish its consumer price index data on Tuesday, which may shed more light on the current wave of inflation and whether it is transient, as the US Federal Reserve says (the central bank).

The Dow Jones Industrial Average ended the trading session up 265.27 points, or 0.77 percent, to 34,872.99 points, while the benchmark Standard & Poor’s 500 index rose 10.49 points, or 0.24 percent, to close at 4,469.07 points.

The Nasdaq Composite Index closed down 7.89 points, or 0.05 percent, to 15,107.61 points.

(Prepared by Wagdy Al-Alfi for the Arabic Bulletin)

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