US stock index markets were little changed on Monday as investors looked for new catalysts that could push the index back to record levels.
On Friday, the Dow rose 1.14%, the S&P 500 rose 1.15% and the Nasdaq Composite rose 1.47% as Federal Reserve Chairman Jerome Powell signaled that an interest rate cut was imminent.
Powell is confident that inflation will return to the central bank's 2% target, while assuring markets that they are offsetting risks to the labor market.
Markets currently see around a 70% chance of a 25 basis point rate cut in September and a 30% chance of a 50 basis point cut.
The three major indices also rose between 1.27% to 1.45% last week.
Investors are now looking ahead to Thursday's preliminary jobless claims data to gauge labor market conditions, as well as Friday's July personal consumption expenditure reading.
On the corporate front, earnings reports are expected to come from Nvidia, CrowdStrike, Salesforce, Dell and Lululemon Athletica this week.
