Stocks fell on Wall Street as traders return from a long holiday weekend.
As many as 9,000 Americans die each year after receiving the wrong prescription drugs or doses. Pharmacies are fighting a bill to shed light on the problem.Markets in Europe and Asia were mixed. Hong Kong’s benchmark fell 2.1%, as investors sold real estate shares which have gained recently following government efforts to support the ailing industry.
Investors have a few economic reports to look forward to this week and the latest round of corporate earnings is essentially finished. The Institute for Supply Management releases its latest report on the U.S. services sector Wednesday. The services sector employs most Americans and is a big component of the economy. Its health could provide more insight into how inflation is affecting consumer spending.
Wall Street will also get updates on aspects of the manufacturing sector and consumer credit. DocuSign, GameStop, Dave & Buster’s and Kroger are set to report their most recent quarterly financial results this week.Last week, investors were busy reviewing a heavy load of economic data as they try to get a better picture of the economy. Much of the information fueled hopes that the Federal Reserve might moderate interest rate increases to tamp down inflation, which has been easing for months.
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