Stock market today: Nasdaq edges higher, Dow drops as investors await key signals on inflation, economy

US stocks closed mixed on Monday as Wall Street braced for a week full of key economic data signals.

The benchmark S&P 500 ( ^GSPC ) hugged the flat line while the tech-heavy Nasdaq Composite ( ^IXIC ) rose about 0.2%. Meanwhile, the Dow Jones Industrial Average ( ^DJI ) dropped roughly 0.4%, or less than 150 points.

In single stock moves, Nvidia ( NVDA ) finished the day about 4% higher, sparking a rally in the tech sector.

Wall Street is coming off a whipsaw week that has left markets jumpy and "on edge." Though the major indexes practically ended last week where they had started , it didn't come without volatility throughout the week.

Strategists say that is likely to continue — and this week comes with plenty of opportunities. Wednesday provides a fresh look at the state of inflation with the latest release of the Consumer Price Index. Then Thursday comes with two key signals on the state of the US consumer: a reading on July's retail sales and Walmart ( WMT ) earnings.

Wall Street once again sees good news as good news , so volatility this week may depend on the signals those data introduce.

Either way, though, markets are seeing a slowing economy, which has shifted the debate from whether the Federal Reserve should cut interest rates in September to how much it should cut them. A small majority of traders expects a 25 basis point cut next month, while the balance — around 48% — see a bigger 50 basis point cut coming.