US benchmark equity indexes experienced a positive trend as traders prepared for significant inflation data and corporate earnings announcements scheduled for later in the week. The Dow Jones Industrial Average climbed 0.6% to reach 44,271.4, while the S&P 500 edged up 0.1%, settling at 5,999.8. In contrast, the Nasdaq Composite remained relatively stable, exhibiting little change at 19,295.
Sector performance was mixed, with consumer discretionary and financials emerging as the top gainers, whereas the technology sector witnessed the steepest decline. On the economic front, it is anticipated that official data will reveal a 0.2% sequential increase in US consumer inflation for October, alongside a 2.4% rise on an annual basis, based on a consensus compiled by Bloomberg.
Additionally, producer prices data for the previous month is set to be unveiled on Thursday. Several prominent companies, including Home Depot, Cisco, Walt Disney, and AstraZeneca, are on track to issue their quarterly financial results later this week. Meanwhile, Live Nation Entertainment and Grab are also expected to publish their results following Monday's closing bell.
In commodities, West Texas Intermediate crude oil experienced a decline of 3.1%, dropping to $68.18 per barrel. Notably, bond markets in the US remained closed on Monday in observance of Veterans Day..