Stocks on Wall Street are meandering with little direction on Monday, anticipating updates on inflation trends and corporate earnings in the upcoming week.

During morning trading, the S&P 500 inched up by 0.1%, following its second weekly decline in the past eight weeks, the Associated Press reports.

The Dow Jones Industrial Average climbed 148 points, or 0.4%, reaching 33,883 as of 10:45 a.m. Eastern time. Conversely, the Nasdaq composite slipped 0.1%.

FMC, an agricultural sciences company, experienced a significant plummet of 12.2%, marking the largest loss in the S&P 500.

This downfall was prompted by the company’s warning of an abrupt decline in business across most regions of the world towards the end of May.

FMC attributed this unexpected and unparalleled decrease to partners depleting their inventory levels. It anticipates that these unforeseen circumstances will adversely affect its financial performance for both the spring and the entire year.

Written by staff