### Market Summary: Monday's Trading Session
Stocks exhibited a lack of clear direction during Monday's trading session, oscillating around the unchanged line. This choppy trading action extends the subdued performance observed over the past two sessions.
As of now, the major indices are slightly mixed. The Nasdaq has gained 26.36 points (0.2%) to reach 17,159.49, while the S&P 500 has dipped by 2.34 points (less than 0.1%) to 5,344.65. The Dow has declined by 93.48 points (0.2%) to 38,705.51.
Investors appear hesitant to make significant moves ahead of several key events later this week, notably the Federal Reserve's monetary policy meeting. The Fed is expected to announce its latest policy decision on Wednesday, with the general consensus being that interest rates will remain unchanged. Consequently, traders are likely to focus on the Fed officials' latest economic and rate projections.
Prior to the Fed announcement, the Labor Department is set to release its report on May consumer price inflation. Economists forecast a 0.1% rise in consumer prices for May following April's 0.3% increase. Core consumer prices, excluding food and energy, are anticipated to rise by 0.3% for the second consecutive month. The annual growth rate for consumer prices is expected to hold steady at 3.4%, whereas the core consumer price growth is projected to decelerate slightly to 3.5% from 3.6% in April.
Additional reports on producer prices, import and export prices, and consumer sentiment and inflation expectations may also draw attention later this week.
### Sector Performance
The oil service sector has significantly outperformed, with the Philadelphia Oil Service Index climbing by 2.3%. This rally is driven by a notable increase in crude oil prices, with crude for July delivery rising $1.10 to $76.63 a barrel.
Semiconductor stocks have also exhibited considerable strength, as indicated by a 1.2% gain in the Philadelphia Semiconductor Index.
Conversely, telecom stocks have extended the steep losses suffered last Friday, pushing the NYSE Arca North American Telecom Index down by 1.9%. Banking stocks are also experiencing notable weakness, leading to a 1.6% decline in the KBW Bank Index, which has now reached its lowest intraday level in over a month.
### Global Markets
Asian markets delivered a mixed performance on Monday, influenced partly by holiday closures. Japan's Nikkei 225 Index advanced by 0.9%, while South Korea's Kospi fell by 0.8%.
European markets have broadly moved lower. The French CAC 40 Index dropped by 1.7%, the German DAX Index fell by 0.6%, and the U.K.'s FTSE 100 Index decreased by 0.4%.
### Bond Market
In the bond market, U.S. Treasuries continue to experience weakness following last Friday's sell-off. Consequently, the yield on the benchmark ten-year note has risen by 3.7 basis points, reaching 4.465%.
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