Reuters
- US stocks were mixed on Monday as investors prepare for the April CPI report and debt ceiling showdown in Congress.
- The inflation report will help guide the Fed as to whether it hikes interest rates in June.
- Senate Republican Leader Mitch McConnell said he doesn't have a "secret plan" to prevent a US debt default.
US stocks traded mixed on Monday as investors prepare for the April CPI report due out on Wednesday, and nervously watch the debt ceiling showdown in Congress.
The consumer price index report for April will help guide the Federal Reserve in its interest rate decision at the next FOMC meeting in mid-June. The Fed hiked rates last week for the 10th consecutive time, increasing the fed funds rate by 25 basis points to just over 5%.