The three major stock averages in the US swung around the flatline on Monday, as investors braced for the resumption of economic data releases from major statistical agencies following the end of last week’s government shutdown. Key reports including the jobs report and trade data are due this week and could influence the Fed’s policy decision next month, at a time when many policymakers are growing more sceptical about the need for additional rate cuts. Markets are currently pricing in about a 43% chance of a quarter-point cut in December. Meanwhile, Nvidia is set to report quarterly earnings this week, with its shares down 1.2%. Apple also declined 1.2% as the company is stepping up its succession planning efforts. Amazon fell 1.3% and Eli Lilly slipped 0.5% after news that Novo Nordisk is cutting prices on its obesity drugs for cash-pay patients. In contrast, Alphabet gained 5.7% after Warren Buffett’s Berkshire Hathaway disclosed it had taken a stake in the company.
