Most US stocks down as markets await key economic data

Wall Street shares finished mostly lower Monday ahead of key economic data and earnings as US President Donald Trump signaled plans to proceed with tariffs on Canada and Mexico.

This week's calendar includes earnings from artificial intelligence (AI) giant Nvidia, key US inflation data and a reading on consumer confidence.

Analysts say these data points could affect investor sentiment, which has been brittle in recent days.

The Dow Jones Industrial Average edged up 0.1% to 43,461.21.

But the broad-based S&P 500 shed 0.5% to 5,983.25, while the tech-rich Nasdaq Composite Index slid 1.2% to 19,286.92.

At a press conference, Trump indicated he plans to move ahead with tariffs on Mexico and Canada once a 30-day suspension expires. The plan is just one of a series of looming tariffs that have been implemented or threatened.

"Markets like certainty," said Adam Sarhan of 50 Park Investments. "Right now there is high uncertainty."

Among individual companies, Starbucks rose 1.3% as the coffee giant said it would cut 1,100 corporate and administrative jobs as part of a reorganization under new CEO Brian Niccol.

Apple climbed 0.7% after announcing plans to spend more than $500 billion in the United States over the next four years, hire 20,000 workers and open a new manufacturing facility in Houston focused on artificial intelligence.

But Alibaba tumbled 10.3% after announcing plans to spend more than $50 billion on AI over the next three years, sparking worries about profitability.

Microsoft dipped 1% on speculation it was scaling back some artificial intelligence investment.