US stocks started the week on the back foot, ahead of important consumer inflation data expected to influence the Federal Reserve’s plans on when to begin cutting interest rates.
The blue-chip S&P 500 closed 0.1 per cent lower on Monday, while the tech-heavy Nasdaq Composite fell 0.4 per cent. The two-year Treasury yield, which moves with interest rate expectations, rose 0.05 percentage points to 4.53 per cent, reversing last week’s decline.
Core US consumer price inflation, which will be reported on Tuesday, is expected to have slowed slightly in February to 3.7 per cent from 3.9 per cent. Headline inflation is expected to be stable at 3.1 per cent.
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