The Dow Jones Industrial Average and the S&P 500 managed to snap a three-day losing streak in what was otherwise a quiet day on Wall Street.
Investors are awaiting key economic data and greater clarity on the pace of future interest rate hikes from Federal Reserve Chair Jerome Powell this week. The annual economic symposium in Jackson Hole, Wyoming starts Thursday.
"We're really in a situation where the markets are betwixt and between," said U.S. Bank Wealth Management's Lisa Erickson.
Market participants will watch how the Fed will absorb the latest inflation reports, including the latest personal consumption expenditures data. The PCE report, the central bank's favorite measure of inflation, will be out before Powell's speech on Friday.
"We really are expecting the Fed to remain vigilant in combating inflation," said U.S. Bank's Erickson. "We do see Jackson Hole as potentially interesting in that it is going to give a sense of how the Fed is digesting more recent data as it looks at how quickly inflation may come down."
"And because the PCE comes out shortly before that speech, it will just be interesting to see how Chair Powell incorporates that information into his outlook," Erickson added.
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