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Markets Fairly Static to Start the Week

U.S. stocks hovered near the flatline early Monday following a record-setting week for the S&P 500. Investors also looked ahead to key inflation data and earnings.

The Dow Jones Industrial Average gained a slight 27.58 points to open Monday at 38,699.27.

The S&P 500 index burrowed ahead 2.42 points to 5,029.03.

The NASDAQ index advanced 22.47 points to 16,013.13.

Salesforce was the biggest drag on the Dow, with the cloud-based software stock sliding 1%. Shares of Hershey slid more than 2% following a downgrade to underweight from Morgan Stanley on the back of softer demand. On the other hand, Diamondback Energy rose 7% after announcing that it would acquire oil and gas producer Endeavor Energy Partners.

Some 61 names in the S&P 500 are set to report earnings in the week ahead, including gig economy stocks Lyft, Instacart and DoorDash. Companies such as AutoNation, Kraft Heinz, Hasbro and Coca-Cola will also shed light on the state of the U.S. consumer.

Prices for the 10-year Treasury sagged, raising yields to 4.19% from Friday’s 4.18%. Treasury prices and yields move in opposite directions.

Oil prices were better by 17 cents to $77.01 U.S. a barrel.

Gold prices floundered $9.20 to $2,039.10.

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