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Stocks were little changed on Tuesday, as traders digested a year-end rally to record levels while awaiting new U.S. inflation data set for release this week.
The Dow Jones Industrial index regained 53.93 points to stop for lunch Tuesday at 44,454.16.
The S&P 500 index nosed ahead 0.94 points to 6,053.79
The NASDAQ Composite edged 2.64 points to 19,739.33
Oracle shares slumped more than 7% after the database software company posted fiscal second quarter results that missed Wall Street’s estimates. The stock has jumped almost 67% this year.
The major averages fell on Monday. The S&P 500 and the NASDAQ Composite slid about 0.6%, dropping from recent records as shares of
Nvidia declined. Shares of the chip giant were marginally lower Tuesday, extending the more than 2% loss seen in the previous session after a Chinese regulator said it was investigating the company for possibly violating the country’s antimonopoly law.
By contrast, Meta Platforms – which also saw losses in the previous session – was slightly higher Tuesday, rising nearly 1%.
Investors are now waiting on the U.S. consumer price index report, which is due Wednesday and could influence how the Federal Reserve proceeds on interest rates at its Dec. 17-18 meeting. Economists polled by Dow Jones forecast that headline inflation rose 0.3% in November and 2.7% over the prior 12 months.
Prices for the 10-year Treasury lagged, raising yields to 4.23% from Monday’s 4.20%. Treasury prices and yields move in opposite directions.
Oil prices hiked 50 cents to $68.87 U.S. a barrel.
Prices for gold jumped $28.60 an ounce to $2,714.40 U.S.
