The US markets ended lower on Monday with investors largely making cautious moves as they looked ahead to earnings season and the release of some crucial economic data this week. Sentiments were weak on worries about a surge in coronavirus cases in several countries across the world and likelihood of fresh lockdown measures at several places weighed on markets. A lack of fresh triggers after the market rose to record highs last week contributed as well to the somewhat sluggish movements in the market.
Data on inflation, retail sales and industrial production are due out this week. Fed's Beige Book, a compilation of economic evidence from the twelve Fed districts also is scheduled this week. Fed Chairman Jerome Powell reiterated that the Fed wants to see inflation rise above its 2% for an extended period before officials move to raise interest rates. He added that amid an accelerated Covid-19 vaccine rollout and strong fiscal support, the US economy appears to be at a turning point.
Dow Jones Industrial Average fell 55.2 points or 0.16 percent to 33,745.4, Nasdaq lost 50.19 points or 0.36 percent to 13,850 and S&P 500 was down by 0.81 points or 0.02 percent to 4,127.99.