Wall St cautious ahead of key inflation data, Fed meeting

June 10 - The S&P 500 and the Nasdaq turned higher, while the Dow was flat on Monday as investors remained wary ahead of a key inflation reading as well as a Federal Reserve meeting this week, which could provide clues on the central bank's policy-easing path.

Markets dialed back expectations for rate cuts in September after Friday's bumper jobs data for May, with the odds of a reduction at 50%. "The employment report already created a 'choose your own adventure', and we suspect there may still be a little bit of confusion from the CPI report this week," Pride said.Chipmaker Nvidia , opens new tab rose 1.1% in choppy trading after a 10-for-one stock split that went into effect after markets closed on Friday, giving rise to chatter about the chances of its inclusion in the blue-chip Dow.

Apple slipped 0.8% ahead of the iPhone maker's annual developer conference for updates on how it is integrating artificial intelligence into its offerings. Diamond Offshore Drilling , opens new tab added 10.3% after oilfield services firm Noble , opens new tab said it would buy the smaller rival in a $1.59 billion deal.

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