Major US indices finished in a mixed fashion on Tuesday, as market participants look ahead to key inflation data set for release on Wednesday.
The S&P 500 rose 0.45%, closing at 5,495.52, while the Nasdaq Composite climbed 0.84%, finishing at 17,025.88. However, the Dow Jones Industrial Average slipped 92.63 points, or 0.23%, settling at 40,736.96.
Nvidia led the charge with a 1.5% gain, giving a boost to both the S&P 500 and the Nasdaq. Other tech giants like AMD and Microsoft also saw gains, despite a challenging period for tech stocks.
Meanwhile, bank stocks weighed on the broader market. JPMorgan Chase saw its shares drop over 5% following a cautious outlook on net interest income for 2025 during an industry conference, making it the biggest decliner in the 30-stock Dow.
Investors are closely watching two key economic reports expected later this week: the consumer price index (CPI) for August, due Wednesday, and the producer price index (PPI) on Thursday. These reports could serve as important catalysts for the market, especially as investors anticipate an interest rate cut from the
Federal Reserve at its Sept. 17-18 meeting to address concerns about the weakening economy.
On the earnings front, Oracle surged more than 11% after exceeding expectations in its fiscal first-quarter results and announcing a partnership with Amazon Web Services to deliver database services.
On the bond markets, 10-year rates were at 3.64% while 2-year rates were at 3.594%.
