S&P 500 edges lower as investors hold their breath ahead of economic data

The S&P 500 closed slightly lower on Monday after a choppy trading day as investors took a pause ahead of economic data and Fed Chair Jerome Powell’s congressional testimony.

Apple closed down 2.5% following a $2-billion EU antitrust fine for preventing Spotify and other music streaming services from informing users of payment options outside its App Store.

Rallies in chip stocks, including Nvidia, helped advance the S&P 500 to fresh intraday records during the session as investors continued to bet on demand for products powering artificial intelligence (AI) even though were broadly cautious ahead of economic data.

Sinéad Carew & Ankika Biswas | Yahoo Finance

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