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Tesla gains after Musk says will unveil Robotaxi in August

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Crypto stocks rise, tracking higher bitcoin prices

(Updates to market close)

By Stephen Culp

NEW YORK, April 8 (Reuters) -

U.S. stocks were essentially unchanged at the close of a

choppy session on Monday, with a solar eclipse offering

distraction ahead of crucial inflation data and the kick-off of

first-quarter earnings season.

All three major U.S. stock indexes were held in check by the

highest benchmark U.S. Treasury yields since November in the

wake of Friday's blowout employment report.

That report heightened chances that the Federal Reserve

could delay implementing its first interest rate cut at its

monthly Federal Open Market Committee meetings longer than

previously expected.

"Wall Street is adjusting expectations to reflect the

fact that the Fed could be slower to lower interest rates and

that now the greatest likelihood is for a rate cut to occur at

the July FOMC meeting, rather than June," said Sam Stovall,

chief investment strategist of CFRA Research in New York.

On Wednesday, the Labor Department's March Consumer Price

Index (CPI) report is expected to show a slight cooldown in

monthly price growth and a nominal decrease in the annual core

number, which excludes volatile food and energy items.

"It's probably a better day to watch the eclipse than it

is to trade stocks," said Jay Hatfield, CEO and portfolio

manager at InfraCap in New York. "I don't think anybody wants to

really reposition one way or the other ahead of CPI."

Year-on-year headline CPI is expected to gain some heat,

rising to 3.4% from 3.2% in February, underscoring inflation's

meandering journey back to the Fed's 2% annual target.

Federal Reserve Bank of Chicago President Austan Goolsbee

said on Monday the central bank must take into consideration how

long it can maintain its restrictive policy without damaging the

economy.

"When I heard (Goolsbee) was speaking at one, I was relieved

because I know he's a dove," Hatfield added. "So, there was no

need to worry about the market melting down while everyone is

looking at the sun."

The first-quarter reporting season officially kicks off on

Friday with numbers from major U.S. banks JPMorgan Chase & Co ( JPM )

, Citigroup Inc ( C/PN ) and Wells Fargo & Co. ( WFC )

As of Friday, analysts expect aggregated S&P 500 earnings

growth of 5.0% year-on-year, down from the 7.2% annual estimate

at the beginning of the quarter, according to LSEG.

According to preliminary data, the S&P 500 lost 0.72

points, or 0.01%, to end at 5,203.62 points, while the Nasdaq

Composite gained 7.21 points, or 0.03%, to 16,255.73.

The Dow Jones Industrial Average rose 2.26 points, or

0.01%, to 38,906.30.

Tesla Inc ( TSLA ) shares provided a boost after CEO Elon

Musk announced the company would unveil its Robotaxi on Aug. 8.

Cryptocurrency-related stocks, including software firm

MicroStrategy ( MSTR ) and exchange operator Coinbase Global ( COIN )

also outperformed, tracking rising bitcoin prices

.