NEW YORK — U.S. stocks were split Monday as technology companies continued to climb, but Boeing and other industrial companies gave back some of the ground they won on Friday.
Companies like Apple and Alphabet, Google’s parent company, and chipmakers including Micron Technology have led the market’s recovery in recent weeks. Retailers including Amazon and Starbucks also made headway. The market was coming off its biggest gain in a month following the February jobs report, which showed strong hiring and moderate growth in wages.
Inflation has been the market’s dominant concern over the last six weeks, and two more measuring sticks of inflation will be reported this week as the Labor Department discloses data on consumer prices this morning and producer prices on Wednesday. Prices paid by consumers jumped in January and so did producer prices, which measure the cost of goods before they reach the consumer.
The Federal Reserve is gradually raising interest rates to keep inflation in check, and it expects to boost rates at least three times this year. JJ Kinahan, chief market strategist for TD Ameritrade, said investors are looking at a lot of data but are really asking one question.
