S&P 500 slips by 0.3% on Monday

US stocks fell on Monday as investors weighed inflationary risks and the potential impact of the new minimum corporate tax rate.

Mixed data on US employment pushed the market down as well, so the S&P 500 showed a slight decline after advancing to all-time highs. Evidently, investors are struggling to find a balance between the potential for higher interest rates and the ability to capitalize on growth driven by massive government stimulus. The US CPI report, due out on Thursday, will be one of the last major economic indicators released ahead of the Fed's policy decision this month.

In any case, US Treasury Secretary Janet Yellen said President Joe Biden must push forward his spending plans even if they trigger inflation. Meanwhile, G7 countries have struck a deal to raise the minimum corporate tax of multinational companies.

Key events this week are:

- Apple's annual developers conference (June 11);

- monetary policy meeting of the European Central Bank (Thursday);

- negotiations on the 2015 nuclear deal (Thursday);

- report on US CPI (Thursday);

- G7 summit (Friday)

S&P 500 slipped by 0.3% on Monday.