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U.S. stocks end mixed ahead of inflation data

2024-04-10 16:17 来源:Xinhua 责任编辑:王勇

NEW YORK, April 9 (Xinhua) -- U.S. stocks ended mixed on Tuesday, as traders await the release of crucial U.S. inflation data.

The Dow Jones Industrial Average fell by 9.13 points, or 0.02 percent, to 38,883.67. The S&P 500 added 7.52 points, or 0.14 percent, to 5,209.91. The Nasdaq Composite Index increased by 52.68 points, or 0.32 percent, to 16,306.64.

Nine of the 11 primary S&P 500 sectors ended in green, with real estate and utilities leading the gainers by going up 1.29 percent and 0.55 percent, respectively. Meanwhile, financials and industrials led the laggards by dropping 0.50 percent and 0.22 percent, respectively.

Investors closely focused on the highly-anticipated consumer price index (CPI) report scheduled to be released on Wednesday as they adjust their forecasts for when and to what extent the Federal Reserve might cut interest rates. This follows strong economic data, including the impressive employment report from last Friday.

Analysts believe that inflation is gradually decreasing towards the Federal Reserve's target of 2 percent. However, the National Federation of Independent Business revealed on Tuesday that small business confidence hit an 11-year low in March, with inflation being their primary concern.

Meanwhile, JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. are due to report results on Friday. "Equity markets are marking time between major macroeconomic data points and the beginning of first-quarter reporting season," said Bill Northey, senior investment director at U.S. Bank Wealth Management in Billings, Montana. "We're still very close to all-time highs in equity markets and this is primarily a pause in advance of those key data points."

"The financials kick off the first-quarter reporting season and often set the tone," Northey added. "We are looking to the cyclical areas as an indicator of the health of corporate America."

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