Finance

Today’s Stock Market News: Stocks are in a holding pattern ahead of CPI report


U.S. stock futures were little changed on Tuesday as investors exercised caution ahead of October inflation data, which could influence the Federal Reserve’s decision. What’s next for interest rates.

Dow Jones Industrial Average (^DJI Innovations) futures were little changed after recording gains on Monday – the only major U.S. index to rise. end with victory. Benchmark S&P 500 (^GSPC) futures hovered above the flat line, while the tech-heavy Nasdaq 100 (^NDX) increased by nearly 0.2%.

Trading has been thin as the market awaits the monthly U.S. consumer price index report before the bell on Tuesday. expected to slow down As energy costs fell, it fell to 3.3%.

A higher-than-expected CPI could dent confidence that the Fed will end its rate hikes, while a lower-than-expected CPI could solidify those hopes that have supported stocks in recent sessions.

On the corporate side, Home Depot (HD) quarterly profit results Same-store sales fell less than expected. The home improvement retailer will be the first to release reports from companies like Target (TGT) and Walmart (WMTWhile consumer spending held steady amid rising borrowing costs, that did not translate into an overall boost for retail stocks.

Elsewhere, attention is being paid to signs of warming relations between China and the United States at the Asia-Pacific Summit in San Francisco, where US President Joe Biden and Chinese President Xi Jinping are scheduled to meet face-to-face on Wednesday. An agreement is expected to be announced According to Bloomberg, China wants to crack down on the production and export of fentanyl.



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