© Reuters.
Investing.com — U.S. stocks were falling ahead of the consumer price index report for April, due out on Wednesday.
At 11:15 ET (15:15 GMT), the was down 58 points or 0.2%, while the was flat and the was down 0.1%.
Investors will take in the report as they assess the Federal Reserve’s progress in bringing down inflation. Analysts expect prices to rise 5% from the same month last year, the same pace as March and still well above the Fed’s 2% target.
Many futures traders expect the will pause its rate hikes at the June meeting after raising by another quarter of a percentage point last week.
Shares of regional lenders such as PacWest Bancorp (NASDAQ:) and Western Alliance Bancorporation (NYSE:) were rising on Friday as fears about the banking system started to fade. PacWest was up nearly 5%, while Western Alliance rose 0.7%.
This week also brings reports on , new , and consumer sentiment.
President Joe Biden and congressional leaders are scheduled to meet at the White House on Tuesday to hash out differences on the debt ceiling, which Congress needs to raise or suspend in the next few weeks or risk the U.S. defaulting on obligations.
Earnings this week include reports from Walt Disney (NYSE:) and PayPal (NASDAQ:).
Shares of DISH Network Corporation (NASDAQ:) rose 3% after it lower than expected first quarter revenue. Tupperware Brands Corporation (NYSE:) shares fell 20% after the maker of storage containers said it tapped investment bank Moelis (NYSE:) to explore strategic alternatives.
Oil rose. was up 2.3% to $73 a barrel, while crude rose 2% to $76.80 a barrel. was up 0.3% to $2,033.
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