Wall Street mixed amid lack of drivers

Major US equity indices painted a mixed picture on Monday amid a lack of fresh fundamental drivers. Furthermore, the US Dollar Index – which tracks the buck vs. its main rivals – remains in a tight range above the critical 100 psychological level, reflecting the general inactivity.

Investors seem to start losing patience as the Trump administration continuously fail to deliver on the campaign promises. Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas, argues that with tax reform and infrastructure spending getting pushed to the end of this year or even next year, it will eventually weigh on sentiment and business confidence, as reported by Reuters.

 At the time of writing, the Dow Jones Industrial Average was down 8.76 points, or 0.04%, at 20,937.96, the S&P 500 was down 5 points, or 0.21%, at 2,376.8 and the Nasdaq Composite was up 0.53 points, or 0.1 percent, at 5,906.64, off its record high of 5915.12.

Headlines from the US session

• What’s the rush to raise rates? - FOMC's Kahkari - BBG
• Fiscal policy details still unclear - Fed's Evans
• OPEC leans towards oil cut extension, but non-members need to be in - RTRS
• There will be inflation overshoot – FOMC’s Harker