Wall Street capped a choppy day of trading with a mixed finish for stock indexes Monday, as investors brace for another sharp interest rate hike by the Federal Reserve this week as the central bank combats inflation.

The S&P 500 edged up 0.1% after fluctuating between gains and losses. The Dow Jones Industrial Average rose 0.3%, while the tech-heavy Nasdaq Composite fell 0.4%.

Smaller company stocks fared better than the broader market, sending the Russell 2000 0.6% higher.

The major indexes are coming off solid gains last week following a mix of mostly better-than-expected reports on corporate profits. Falling yields in the bond market also helped, easing the pressure on stocks after expectations for rate hikes by the Fed sent yields soaring much of this year.

On Wednesday, most economists expect the Fed to announce a three-quarter percentage point hike in its short-term rate, a second consecutive hefty increase that it hasn't otherwise implemented since 1994. It would put the Fed's benchmark rate in a range of 2.25% to 2.5%, the highest since 2018.

Wall Street will closely watch a news conference by Fed Chair Jerome Powell on Wednesday to get a sense of policymakers' next steps.

"The only question is will Powell sound a little less hawkish in his press conference, which could allow the market to continue to breathe a sigh of relief," said Sam Stovall, chief investment strategist at CFRA.

The U.S. economy is slowing, but healthy hiring shows it isn't yet in recession, Treasury Secretary Janet Yellen said Sunday on NBC's "Meet the Press." She spoke ahead of a slew of economic reports due this week that will shed light on an economy currently besieged by rampant inflation.

Since the Fed last met in June, the government has reported that inflation accelerated to a 9.1% annual rate, the most since 1981.

Still, some early signs suggest that inflation may be cooling from red-hot levels. Auto club AAA said on its website as of Monday that the average price of a gallon of regular gas is $4.36 per gallon. That's down 16 cents from a week ago, and 55 cents cheaper than late June, when the average price was $4.91 per gallon. Crude oil prices have fallen nearly 10% this month alone.

Even so, elevated inflation is increasingly prompting consumers to reprioritize their spending.

Walmart's shares fell nearly 10% in after-hours trading Monday after the retail giant lowered its profit outlook for the second quarter and full year. The company blamed surging inflation on basics like food that are forcing shoppers to cut back on discretionary items, particularly clothing, that carry higher profit margins.

Outside of the Fed meeting, the week's highest-profile report will likely be Thursday, when the Commerce Department releases its first estimate of the economy's output in the April-June quarter. Some economists forecast it may show a contraction for the second quarter in a row. The economy shrank 1.6% in the January-March quarter. Two straight negative readings is informally considered a recession.

On Wall Street, the S&P 500 rose 5.21 points to close at 3,966.84 Monday. The Dow gained 90.75 points to 31,990.04, and the Nasdaq fell 51.45 points to 11,782.67. The Russell 2000 added 10.89 points to 1,817.77.

Energy companies, banks and health care stocks helped lift the market Monday. Exxon Mobil rose 3.3% and Bank of America added 0.9%. UnitedHealth Group gained 1.5%.

Losses by technology and communications stocks kept indexes' gains in check. Chipmaker Nvidia fell 1.7% and Meta closed 1.6% lower.

Restaurant chains, retailers and other companies that rely on direct consumer spending also fell. Olive Garden owner Darden Restaurants dropped 2.1%, while Dollar Tree fell 2.1%.

World Wrestling Entertainment jumped 8.4% after CEO Vince McMahon retired Friday amid an investigation into alleged misconduct.

Weber slumped 12.6% after the Illinois-based grill maker announced the departure of CEO Chris Scherzinger. It also pulled its 2022 forecast and suspended its dividend.

Newmont slid 13.2% for the biggest decline in the S&P 500 after the gold miner's second-quarter earnings fell sharply from a year earlier amid higher costs and weaker gold prices.

Bond yields rose. The two-year Treasury yield, which tends to move with expectations for the Fed, rose to 3.04% from 2.97% late Friday. The 10-year yield, which influences mortgage rates, rose to 2.81% from 2.78%.

Earnings were mostly quiet, but pick up later this week when technology heavyweights like Apple, Meta, Microsoft and Amazon all report their results. Other big companies reporting this week include Coca-Cola and McDonald's, where investors may look to see the impact of inflation on these inflation-conscious, consumer-facing companies.

The first of four supermoons to rise in 2023, July’s lunar display will appear to be brighter in the night sky than any other full moon event that has occurred this year.

The full moon will rise on Monday, July 3, and reach peak illumination below the horizon at 7:39 a.m. ET, according to The Old Farmer’s Almanac. Local weather conditions allowing, you can view the celestial event by looking to the southeast after the sun sets.

“A supermoon is when the moon appears a little bit bigger in our sky,” said Dr. Shannon Schmoll, director of the Abrams Planetarium at Michigan State University. “As the moon goes around the Earth, it’s not a perfect circle. So, there are points in its orbit where it’s a little bit closer or a little bit farther from the Earth.”

When the orb reaches its full moon phase at a point in its path where it is closer to the Earth, it appears to be slightly larger and a supermoon occurs, Schmoll explained. While the size difference between a supermoon and a typical full moon may not be immediately apparent to the naked eye, The Old Farmer’s Almanac says the first full moon of summer will be more luminous and 224,895.4 miles (361,934 kilometers) from Earth.

This month’s moon is also known as the buck moon. July is typically when male deer’s antlers grow during an annual cycle of shedding and regrowth, according to the almanac.

There are several other names for the buck moon that come from Native American peoples, according to Western Washington University. Names like hot moon refer to summer weather while terms like raspberry moon and ripe corn moon signify the best times for harvesting fruit and other crops.

Full moons and supermoons

While most years have 12 full moons, 2023 will have 13 of these lunar events. There will be two supermoons in August, including a blue moon, which will be the closest moon to Earth this year, according to The Old Farmer’s Almanac. The fourth and final supermoon in 2023 will rise on September 29.

Here are the full moons remaining in 2023, according to the Farmer’s Almanac:

● August 1: Sturgeon moon

● August 30: Blue moon

● September 29: Harvest moon

● October 28: Hunter’s moon

● November 27: Beaver moon

● December 26: Cold moon

Lunar and solar eclipses

People across North, Central and South America will be able to see an annular solar eclipse on October 14. During the solar eclipse, the moon will pass between the sun and Earth at or near its farthest point from Earth. The moon will appear smaller than the sun and encircled by a glowing halo.

To avoid damage to the eyes, viewers should wear eclipse glasses.

A partial lunar eclipse will also take place on October 28. Only part of the moon will pass into shadow as the sun, Earth and moon will not completely align. This partial eclipse will be viewable in Europe, Asia, Australia, parts of North America and much of South Africa.

Meteor showers

Each of the nine remaining meteor showers expected to peak this year will be most visible from late evening until dawn in areas without light pollution. Here are the events’ peak dates:

● Southern Delta Aquariids: July 30-31

● Alpha Capricornids: July 30-31

● Perseids: August 12-13

● Orionids: October 20-21

● Southern Taurids: November 4-5

● Northern Taurids: November 11-12

● Leonids: November 17-18

● Geminids: December 13-14

● Ursids: December 21-22

RADCLIFF, Ky. —

Live music, good food, and of course, fireworks. It's what you can expect this holiday weekend across the country.

But one popular Fourth of July celebration in a Kentucky community is going to be bigger and better because of a generous community member.

"It's just something that's always been a custom here in our community," said Radcliff Mayor J.J Duvall.

A long-standing tradition in the city of Radcliff, the "Thunder over Radcliff" fireworks show during the 4th of July weekend brings people from near and far to celebrate.

But this year, with a fireworks shortage and the demand so high, the $5,000 to $6,000 the city would usually pay for the show wouldn't be enough -- putting the popular event in jeopardy. And then an anonymous Radcliff resident stepped in to help.

"Last month, we had a citizen step forward and said, 'I want to do something for our community, I want to do something that benefits the community and something that can be fun and be enjoyed by the community,'" Duvall said.

It came in the amount of a check for $10,000, offsetting the higher costs of the fireworks, with money left over to add in several more minutes.

"Obviously $10,000 is a lot of money, and for this individual to do that just shows how much they care and love our city," Duvall told sister station WLKY.

Watch the video above for more on this story.