Stocks Slip, Bitcoin Surges Ahead of Key Inflation Data That Will Test Rate Cut Bets

US stocks slipped on Monday ahead of key inflation data that will test bets on interest rate cuts. Bitcoin hit a fresh record high above $72,000.
Economists are feeling better about the economic growth outlook amid continued labor market strength. Growth forecasts have increased for the first half of 2024.
Consumer inflation expectations rose over the 3- and 5-year horizon in a New York Fed survey, highlighting the need for the Fed to see inflation cool.
Oil prices declined ahead of monthly OPEC reports and Tuesday’s key CPI inflation data that could impact rate cut timing.
The Reddit IPO roadshow begins today, with the company targeting a $5.8-$6.4 billion valuation and NYSE listing in the next two weeks.