Wall St steady after selloff on jobs data, Nvidia weighs
Stocks edged off the day's highs as last week's blowout labor market report was initially seen as a sign the economy could withstand aggressive interest rate hikes by the Fed to tame inflation running at four-decade highs.
Investors now await consumer price data for July to be released on Wednesday to gauge whether the Fed might ease a bit in its inflation fight and provide a path for the economy to grow."The CPI data will help to confirm if the Fed's tightening efforts have been successful in starting to tame inflation or if continued Fed tightening is needed," said Robert Schein, chief investment officer at Blanke Schein Wealth Management.
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