US Stocks Trim Friday Rally
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US stocks fell slightly on Monday, reducing gains from the previous session as investors reassessed potential Federal Reserve rate cuts. The S&P 500 and Dow were about 0.3% lower, close to record highs. Fed Chairman Powell indicated that a weakening labor market might lead to rate adjustments in September, but inflation concerns limited equity gains. Nvidia dropped 0.5% ahead of earnings, while Intel rose 1.5% after a government stake acquisition. Keurig Dr Pepper fell 8% following its $18 billion acquisition of JDE Peet.
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