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The Dow Jones lost 0.34%, the S&P-500 0.08% and the Nasdaq 0.63%.
by Caroline Valetkevic
NEW YORK, Jan 9 (Reuters) – The New York Stock Exchange closed on Monday in mixed order as expectations of less aggressive monetary policy from the US Federal Reserve (Fed), which has favored big-stock technologies, have been overshadowed by lingering inflation fears.
The Dow Jones index fell 0.34%, or 112.96 points, to 33,517.65 points.
The broader S&P-500 lost 2.99 points, or 0.08%, to 3,892.09 points.
The Nasdaq Composite rose 66.36 points (0.63%) to 10,635.65 points.
Up at the start of the session, the S&P-500 finished in the red, while the Nasdaq closed below its high for the day.
Investors are awaiting a speech expected Tuesday from Fed Chief Jerome Powell, who analysts say should say more time is needed to determine whether inflation is under control.
A 25 basis point rate hike is widely anticipated by markets at the US central bank’s February monetary policy meeting.
However, consumer price data released Tuesday could affect expectations for upcoming rate hikes, said Quincy Krosby, chief strategist at LPL Financial, Charlotte, North Carolina.
This week also marks the start of quarterly earnings season, which will open major US banks.
Among the major sectors of the S&P-500, the technology sector closed higher on the back of a decline in the yield on US Treasuries.
In shares, Amazon rose 1.5% after Jefferies said it expected less inflationary pressures for the e-commerce giant in the second half of 2023.
Tesla jumped 5.9% as reported longer delivery times for some versions of its Model Y in China suggested the EV maker’s recent price cut may have fueled demand.
Macy’s and Lululemon Athletica fell 7.7% and 9.3%, respectively, after disappointing quarterly forecasts.
* The reminder of the session in Europe:
* TO FOLLOW Tuesday: (French version Jean Terzian)