US stocks dip after weekly drop as recession worries remain on the radar

Stocks traded lower Monday as investors navigate through signs of peaking inflation alongside concerns about the US running into recession next year. Investors have only nine full trading sessions left in 2022 and the S&P 500 remains sharply lower, down about 19%. The S&P 500 fell by 2.1% last week, marking a second straight weekly decline, on fears of a higher-for-longer scenario for rates. Among individual stocks Monday, Tesla shares rose after CEO Elon Musk asked his Twitter followers whether he should quit running the social media site and a majority of poll voters agreed. Musk said he would "abide by the results". Here's where US indexes stood at the 9:30 a.m. opening bell on Monday: S&P 500: 3,848.36, down 0.10%Dow Jones Industrial Average: 32,887.42, down 0.10% (33.04 points)Nasdaq Composite: 10,654.59, down 0.47%For markets, unknown factors "remain considerable, namely how quickly inflation (particularly the core rate) will fall, how severe any recession will be, and when central banks will stop raising and start cutting rates," Rupert Thompson, chief economist at Kingswood, wrote in a note. "We continue to believe markets face a few more months yet of volatility before the improving outlook becomes clear enough to engender a sustained recovery in equity markets." Here's what else is happening today:In commodities, bonds, and crypto: Bitcoin rose about $5 to $16,745.85.