STORY: Wall Street eked out a gain on Monday after falling into negative territory late in the session, with persistent worries over inflation offsetting some of the morning optimism on easing regulatory crackdowns and health restrictions in China.
The Dow closed up fractionally, while the S&P 500 and Nasdaq ended a bit higher.
Greg Swenson is founding partner of Brigg Macadam.
"Once again, I think the market is looking at interest rates and potentially more inflation. You know, the CPI number comes out later this week, so I think all eyes are on that. And you had a nice rally this morning, it looks like, but once the investors started looking at interest rates and the 10-year ticked above 3%, I think that caused some selling. So, you know, I think it's a tug of war between short-term good news, which I think we got out of China, you know, ending the lockdowns. And that's sort of a near-term optimistic that will help the market. But I think in the long run, the market is still concerned about inflation. That's not going away any time soon."
Investors are keeping a close eye on inflation data, with a U.S. consumer price index report on Friday expected to show inflation that's still too high.
Shares of Amazon rose 2% on the stock's first day of trading after adjusting to a 20-for-1 split.
Twitter shares slipped but recovered much of the losses after billionaire Elon Musk said he might walk away from his buyout offer if the social media company fails to provide him with the spam and fake account data he desires.
And shares of Didi Global surged more than 24% after a report that Chinese regulators were preparing as early as this week to allow the ride-hailing firm's mobile app back on domestic app stores.