US Stock Market Today: Wall Street Drifts as Tech Worries Linger Ahead of Jobs and Inflation Data

US stocks lacked direction on Monday as investors watched pressure on big technology names and prepared for a heavy week of US economic data. Bloomberg data showed the S&P 500 hovered near flat in New York trading and held close to 6,900 after a strong rebound late last week. The NASDAQ 100 moved in a narrow range as traders reassessed how artificial intelligence may reshape earnings across software, media, and consumer platforms.

Market breadth pointed to caution. More than 300 stocks in the S&P 500 fell even as several of the biggest technology firms stayed firm. This split suggested investors still want exposure to growth leaders, but they also want protection if volatility returns.

S&P 500 Stalls as Tech Volatility Stays in Focus

Equity trading followed a sharp rebound at the end of last week that added about $1 trillion in market value. Traders said positioning and leverage helped drive fast swings, even as many indicators still pointed to steady growth.

Technology shares remained the main focus after last week’s selloff linked to artificial intelligence risks and shifting views on heavy capital spending. Some investors rotated into more cyclical stocks, aiming to reduce exposure to companies seen as vulnerable to AI disruption. Several strategists also warned that systematic funds may add to selling if price trends weaken, which could extend daily swings.

Key US Data this Week May Reset Rate Expectations

Traders now turn to fresh readings on jobs, inflation, and consumer demand. The government will publish the January US jobs report on Wednesday and will include annual revisions to payroll counts. Economists expect employers to add about 69,000 jobs and see the unemployment rate hold near 4.4%. Analysts also expect revisions to mark down hiring in the year through March 2025.

Friday’s consumer price index will test whether disinflation continues after recent progress. Retail sales data will also arrive this week and will help investors judge how higher borrowing costs affect spending. Chris Larkin at E*Trade said a modest jobs report may not move markets much, but he warned that investors should not assume weak data will automatically lift stocks.

Policy makers also added context. National Economic Council Director Kevin Hassett said slower population growth may lead to smaller job gains even if the economy keeps expanding, which could shape how traders read upcoming labor numbers.

Bonds, Bitcoin, and Gold Show Mixed Risk Signals

Treasury yields moved only slightly as traders waited for data. Investors also watched reports that Chinese regulators urged banks to limit Treasury exposure, a factor that can influence demand for US debt.

Bitcoin slipped below $70,000 during the session, reflecting weaker risk appetite in parts of the market. The token traded near $69,448, down about 2.6% on the day. Ether also weakened, trading near $2,056.

The dollar eased as investors priced in lower yields, while West Texas Intermediate crude rose 0.8% to $64.08 a barrel in trading on Monday.

Corporate Highlights:

• Meta received an EU warning over policies that restrict rival AI assistants on WhatsApp.

• Eli Lilly agreed to buy Orna Therapeutics for up to $2.4 billion in cash.

• Novo Nordisk said it is suing Hims & Hers over obesity drug copycats.

• Kroger plans to name Greg Foran as its next chief executive officer.

• Apollo reported results as its lending business hit record activity.

• Newmont pressed Barrick to improve Nevada operations before any IPO move.

• NatWest agreed to buy wealth manager Evelyn Partners for £2.7 billion.

• Cleveland-Cliffs shares fell after results missed expectations on weaker volumes.

• Hims & Hers said it will stop selling its recently launched copycat Wegovy pill.

• Becton Dickinson fell after it reported weaker life sciences revenue and cut guidance after a business sale. 

Gold stayed above the $5,000 an ounce level and held recent gains as investors weighed safe-haven demand and shifting rate expectations. Spot prices moved around $5,000 after January’s record-setting run, with traders watching this week’s inflation and jobs data for the next catalyst.

Also Read: US Stock Market Today: S&P 500 & NASDAQ Slide as AMD Outlook Disappoints and AI Risk Concerns Grow