Stock Market Today: Dow ends lower as investors await key inflation data
Investing.com — The Dow closed lower Monday as investors mulled ongoing quarterly earnings from corporate America and awaited further catalysts including the release of key inflation data later this week.
By 16:00 ET (21:00 GMT), the Dow Jones Industrial Average was down 66 points, or 0.2%, the S&P 500 fell 0.4% and NASDAQ Composite slipped 0.1%.
Domino’s Pizza (NYSE:DPZ) stock soared over 5% after reporting quarterly results that topped Wall Street even as inflation weighed on margins. The pizza chain hiked its dividend and gave the green light to further share repurchases.
Freshpet Inc (NASDAQ:FRPT) stock soared nearly 19% after the pet-food manufacturer’s fourth-quarter revenue and profit topped analyst estimates, helped by a rise in sales as it boosts media spending.
Berkshire Hathaway (NYSE:BRKa) fell 1.7% despite Warren Buffett's conglomerate posting its second straight record annual profit, bringing it closer to a $1 trillion market value.
With the fourth quarter earnings season now coming to a close, earnings reports from a string of major retailers are on tap this week.
Lowe’s Companies (NYSE:LOW), Macy’s (NYSE:M), TJX Companies (NYSE:TJX) and Best Buy (NYSE:BBY) will release their quarterly readouts through the week, with any signs of a spending slowdown squarely in focus.
The slew of retail earnings will offer clues into the strength of the consumer at a time when many are concerns about the impact of sticky inflation and higher for longer interest rates.
However, a string of signals from the Federal Reserve last week showing that the central bank was in no hurry to begin trimming interest rates in the near-term limited the gains.
Anticipation of more key inflation readings this week, specifically the PCE
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