US benchmark equity indexes closed little changed Monday, as a survey showed mixed inflation expectations among consumers.
The Dow Jones Industrial Average finished the trading session at 38,892.8, while the S&P 500 and the Nasdaq Composite ended at 5,202.4 and 16,254, respectively. Among sectors, real estate and consumer discretionary led the gainers, while energy declined the most.
In economic news, US consumers' three-year inflation expectations climbed in March, while the one-year component didn't budge for a third consecutive month, the Federal Reserve Bank of New York said. The five-year inflation outlook fell sequentially.
The Bureau of Labor Statistics is likely to report Wednesday that the US consumer price index rose 0.3% sequentially and 3.4% annually in March, according to a Bloomberg-compiled consensus.
"Amid a slew of solid data and elevated inflation, yields continue to rise as investors are seemingly flooding into our previously lonely boat of potentially just two rate (interest rate) cuts this year," Stifel said in a Monday note.
The US producer price index for last month is scheduled to be released Thursday.
The US two-year yield rose 6.3 basis points to 4.8% Monday, while the 10-year rate added 4.4 basis points to 4.42%.
In company news, Tesla (TSLA) will unveil "Robotaxi" Aug. 8, Chief Executive Elon Musk said Friday in a post on social-networking site X. The electric vehicle maker's shares jumped nearly 5% Monday, the top gainer on the Nasdaq and among the best on the S&P 500.
Paramount Global (PARA) shareholder Matrix Asset Advisors raised concerns over Skydance Media's offer to acquire the entertainment company and urged its board to consider Apollo Global Management's (APO) offer. Paramount's class B shares slid 7.6%, the steepest decline on the S&P 500. Its class A shares closed 2.6% higher.
West Texas Intermediate crude oil eased 0.4% to $86.54 per barrel.
Gold rose 0.5% to $2,357.80 per troy ounce, while silver added 1.5% to $27.93 per ounce.