Wall Street traders found little encouragement to keep pushing the stock market higher at the start of a week that will bring the last key inflation figures before the Federal Reserve decision.
Equities retreated on Monday, with investors awaiting more clues on whether the recent uptick in consumer prices was just a blip or a sign that the disinflationary trend has hit a wall. After closing at record highs 16 times this year, the S&P 500 is showing signs of overheating, spurring warnings for a near-term consolidation in the absence of fresh catalysts.