US: Stocks little changed ahead of CPI data

The US shares finished volatile session with mixed note on Tuesday, 09 April 2024, with the S&P500 and the Nasdaq indexes settling slightly above unchanged line, while the Dow closed in negative territory, on caution ahead to the release of the consumer price inflation reports.

The March consumer price index report is slated for release Wednesday. Investors will also see the release of the minutes of the Fed's latest monetary policy meeting on Wednesday, which could also shed additional light on officials' thinking on rates. Fed officials are also set to speak in the coming days, including New York Fed President John Williams and Boston President Susan Collins, who will both speak on Thursday.

 

At closing bell, the Dow Jones Industrial Average index edged down 9.13 points, or 0.02%, to 38,883.67. The S&P500 index added 7.52 points, or 0.14%, to 5,209.91. The tech-heavy Nasdaq Composite index increased by 52.68 points, or 0.32%, to 16,306.64.

Total 9 of 11 major S&P 500 sectors closed higher, with real estate sector enjoying the largest percentage gains, rising 1.3%, while financial sector the biggest laggard, falling 0.5%.

Shares of financials declined, with JPMorgan Chase & Co, Wells Fargo & Co, and Citigroup Inc leading decline ahead of quarterly results due to release on Friday.

Cryptocurrency and blockchain-related stocks declined, tracking falling bitcoin prices. Exchange operator Coinbase Global and software company MicroStrategy dipped 5.5% and 4.8%, respectively.

Shares of Moderna were up 6.2% after the drugmaker's individualized cancer vaccine developed with Merck promise in an early-stage trial.

Powered by Capital Market - Live News