US stocks retreat ahead of monthly closing

By FXStreet FXStreet (Mumbai) – The stock markets in the US fell in early trading on Monday as investors remain cautious ahead of the key data and central bank comments later in the week.

At the time of writing, the Dow Jones Industrial Average (DJIA) was down 34 points or 0.18% at 17,769.33 levels. The S&P 500 and the Nasdaq were largely unchanged on the day. Among the DJIa stocks, Wal-Mart Stores was the biggest loser; down 1.07%. On the other side, Exxon Mobil was the top gainer for the week; up 1.20%.

On the data front, the Chicago PMI for November came in at 48.7, down from October’s 56.2 print. Pending home sales for November missed estimates to print at 0.2% m/m.

Investors remain cautious ahead of the monthly closing and key events due later this week.

Fed Chair Janet Yellen will address the Economic Club of Washington on Wednesday and testifies before the congressional Joint Economic Committee on Thursday. This will be followed by the November month non-farm payrolls report and the OPEC meeting on Friday.
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Source:: FX Street