US Stocks Close Mixed Despite Fall In Inflation Expectations

US stock exchanges closed mixed on Monday despite consumers seeing less inflation on the horizon.

The blue-chip Dow Jones rose 29 points, or 0.1%, to close at 32,832.

The S&P 500, on the other hand, was almost flat, losing just 5 points, or 0.1%, to finish at 4,140.

The tech-heavy Nasdaq lost 13 points, or 0.1%, to end the day at 12,644.

US consumers' inflation expectations fell to the lowest level since February, according to a survey released earlier Monday by the Federal Reserve Bank of New York.

The median one-year-ahead inflation expectation dropped 0.6 percentage points to 6.2% in July, from 6.8% in June. The three-year-ahead inflation expectations fell 0.4 percentage points from 3.6% to 3.2% – its lowest level since April.

The VIX volatility index, also known as the fear index, was up 1.2% to 21.41 just before the closing bell. The 10-year US Treasury yield was down 2.6% to 2.766%.

The dollar index declined 0.2% to 106.42. The euro rose 0.1% to $1.0190 against the dollar.

Precious metals were on the rise, with gold adding 0.7% to $1,788 and silver rising 3.7% to $20.64.

Oil prices reversed course from their earlier losses. Global oil benchmark Brent crude was at $96.38 per barrel for a 1.5% gain, while US benchmark West Texas Intermediate was up 1.7% to $90.57. -