Major stock indexes on Wall Street gave up early gains and ended a choppy day of trading little changed Monday.
The S&P 500 and Nasdaq each slipped 0.1% after shedding gains of 1% and 1.6%, respectively. The Dow Jones Industrial Average closed 0.1% higher.
Small-company stocks outpaced the broader market in a sign that investors were confident about the economy. The Russell 2000 rose 1%.
The market’s latest gyrations came as investors prepare for a busy week of economic updates that could help answer whether the Federal Reserve’s efforts to cool the economy and quell inflation are working, or whether the central bank will continue aggressively raising interest rates. Wall Street is worried that the Fed could hit the brakes too hard and cause a recession.
“Early indications of inflationary pressures appear to be easing, which will be an important catalyst for the market,” said Quincy Krosby, chief global strategist for LPL Financial.