Producers of metals and other raw materials rose ahead of earnings and inflation data later in the week.
One strategist said much will depend on inflation and economic data coming later in the week.
If the personal-consumption expenditure index confirms a recent up-tick in the consumer price index, it could weigh, while data in line with modest expectations would alleviate inflation concerns.
Even robust economic data could exacerbate inflation worries, the strategist noted. "Of late, we've been back to a 'good-news-is-interpreted-as-bad-news' market," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Gold futures slid by nearly 3% as risks of a wider conflict in the Middle East seemed to recede. The precious metal was among the few major investments in positive territory last week amid a "run to safety," said Mr. Joyce.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-22-24 1711ET
