The market is digesting the consumer price index report this morning, which showed that inflation rose more than expected again, and overall the CPI was up 6.4% from a year ago.
The market, as expected, is lower to start Tuesday trading. Investors now have to wait till later in the week to hear from Federal Reserve officials in hopes of gleaning any new information about the path forward as the Fed works to lower the inflation rate.
DON'T MISS: Inflation Sticks at 6.4% In January, With Core Prices Quickening, Complicating Fed Battle
CME's FedWatch tool holds a 90% chance of a 25 basis point hike in the March Fed meeting.
Outside of the Fed's path forward, there are reports that Fed Vice Chair Lael Brainard is about to be tapped by President Joe Biden as his top economic advisor.
Focusing on Monday's volume, Real Money contributor Stephen Guilfoyle wrote, "There certainly was not much of it. Trading volume was lower for both NYSE and Nasdaq listings on both a day-over-day and week-over-week basis. For constituents of the S&P 500, Monday was the lightest day of trade since Friday, January 27, while those names comprising the Nasdaq Composite experienced their lightest trading session since Thursday, January 19."
Outside of the market action, Super Bowl viewership came in with 113 Americans tuning into the big game. But football wasn't the only focus for Americans as 118 million tuned in for Rihanna's halftime show.
The viewership came in just shy of the 2017 New England Patriots Super Bowl win but beat last year's viewership.
