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Workday, Apollo Global Management ( APO ) up on planned S&P 500

addition

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Interpublic jumps after report of merger talks with

Omnicom ( OMC )

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Indexes: Dow up 0.13%, S&P 500 down 0.11%, Nasdaq down

0.16%

(Updates after markets open)

By Purvi Agarwal and Shashwat Chauhan

Dec 9 (Reuters) -

The S&P 500 and the Nasdaq were slightly lower on Monday

after notching record closing highs in the previous session, as

losses in chip stocks including Nvidia ( NVDA ) weighed, while investors

awaited a key inflation report this week.

The consumer prices index (CPI) data due on Wednesday is

among the last major datasets ahead of the Federal Reserve's

Dec. 17-18 meeting and could influence the central bank's

monetary policy path.

"The thing to watch will be any hint or evidence that core

CPI might moderate into 2025 because the Fed will have a hard

time continuing to cut at the pace they're on now," said Ross

Mayfield, investment strategist at Baird.

Bets of a 25-basis-point rate cut at the upcoming meeting

shot up to more than 89% after data on Friday showed a rise in

the unemployment rate to 4.2% in November, pointing to an easing

labor market.

A host of Fed officials including Chair Jerome Powell last

week said that the central bank could afford to be more cautious

with its monetary policy easing path, given the resilience of

the economy.

At 9:39 a.m. ET, the Dow Jones Industrial Average

rose 58.66 points, or 0.13%, to 44,701.18, the S&P 500

lost 6.85 points, or 0.11%, to 6,083.42 and the Nasdaq Composite

lost 32.29 points, or 0.16%, to 19,827.48.

Nvidia ( NVDA ) was last down 2.4% after China's market

regulator said it had opened an investigation into the company

over suspected violation of the country's antimonopoly law,

knocking a gauge of semiconductor stocks down 0.3%.

Another big decliner amongst chips was Advanced Micro

Devices ( AMD ), which fell 3.3% as BofA Global Research

downgraded its rating on the stock to "neutral" from "buy".

Seven of the 11 major S&P sectors were trading lower,

with utilities at the helm of losses with a 0.6% fall.

Wall Street's main indexes kicked off December on a broadly

positive note, with the benchmark S&P 500 and the

tech-heavy Nasdaq logging gains in their first week,

while the blue-chip Dow ended the week marginally lower.

U.S. equities surged in November as Donald Trump's victory

in the presidential election and his party sweeping both houses

of Congress raised expectations of a friendlier policy stance

towards companies.

Among notable movers on Monday, Workday and Apollo

Global Management ( APO ) added 8.1% and 3.5%, respectively, on

their planned inclusion into the S&P 500 index.

Interpublic Group advanced 9.5% after a report said

marketing conglomerate Omnicom ( OMC ) was in advanced talks to

acquire the advertising company. Omnicom ( OMC ) shares were down 6%.

U.S.-listed shares of Chinese companies gained after the

Chinese Politburo hinted at a shift to looser monetary policy

next year and more proactive fiscal policy to spur economic

growth. Alibaba was up 8%, PDD Holdings ( PDD ) climbed

11.3% and Baidu added 7.1%.

Advancing issues outnumbered decliners by a 2.16-to-1 ratio

on the NYSE and by a 1.9-to-1 ratio on the Nasdaq.

The S&P 500 posted 14 new 52-week highs and one new low,

while the Nasdaq Composite recorded 64 new highs and 15 new

lows.