Coming off a record-breaking week, Wall Street drifted toward modest losses early today, according to the Associated Press, with more corporate earnings on tap and another inflation update coming from the U.S. government. Futures for the S&P 500 were flat before the bell, while futures for the Dow Jones Industrial Average fell less than 0.1%.
This week brings an important update from the Labor Department on consumer inflation.
In corporate news, Diamondback Energy kicked off the week by announcing that it will buy rival Endeavor Energy Resources in a cash-and-stock deal valued at about $26 billion to create a drilling giant in the Southwestern U.S.
In other trading today, U.S. benchmark crude oil lost 67 cents to $76.17 per barrel in electronic trading on the New York Mercantile Exchange. It gained 62 cents on Friday. Brent crude, the international standard, lost 78 cents to $81.41 per barrel.
The U.S. dollar fell to 149.08 Japanese yen from 149.28 yen.
