US stocks are mixed in Monday’s session as investors wait for the Fedspeak due later this week.
The Dow Jones Industrial Average is up 12.83 points, or 0.10 percent, to trade at 12,389.55 at 2:45 p.m. EST. The S&P 500 Index is down 1.11 points, or 0.08 percent, to trade at 1,331.30. The Nasdaq Composite fell 0.22 percent.
Last Fridays’ (NFP) report showed gains of 216,000 for the month of March, which was slightly better than what economists expected. The market rallied modestly on Friday.
Now, the market is looking for more clues from Federal Reserve officials. Late Monday, Chairman Ben Bernanke is set to give a speech titled “Clearinghouses and Financial Stability.” Despite the focus on the regulatory side of the Federal Reserve, the market will still watch for monetary policy clues from Bernanke.
On Tuesday, noted hawk Charles Plosser will speak. On the same day, the minutes of the latest FOMC meeting will be released.
Investors are looking to see what the Federal Reserve will do with its program of quantitative easing and when it will start to raise interest rates. A more accommodative stance from the Federal Reserve is positive for the stock market and vice versa.
Investors are also eyeing Tuesday’s crucial ISM services PMI report.