US stocks were mixed on Tuesday on Federal Reserve’s monetary policy caution.
Investors are awaiting the Fed minutes of last monetary policy and Nvidia’s fiscal first quarter results. Both the events are due on Wednesday.
At 9:51 a.m. ET, the Dow Jones Industrial Average was up 28.67 points, or 0.07 per cent, at 39,835.44, the S&P 500 was down 3.95 points, or 0.07 per cent, at 5,304.18, and the Nasdaq Composite was down 53.51 points, or 0.32 per cent, at 16,741.36.
Shares of chipmaker Nvidia fell 1.3 per cent ahead of its quarterly earnings.
Micron dropped 2.2 per cent after raising its full-year capital expenditure forecast.
Palo Alto Networks stock dropped 5.1 per cent after its fourth quarter billings forecast.
Retailer Lowe’s Cos lost 1.6 per cent after quarterly sales slowed.
The yield on the 10-year Treasury slipped to 4.40 per cent from 4.48 per cent late on Monday. The two-year yield slipped to 4.82 per cent from 4.85 per cent.
Crude oil
Oil prices dropped by more than $1 on Tuesday, extending losses on the potential for lingering US inflation to keep interest rates higher for longer.
Brent crude futures fell by $1.54, or 1.8 per cent, to $82.17 a barrel by 1210 GMT. US West Texas Intermediate crude (WTI) futures for June, which are set to expire on Tuesday, slipped by $1.49 cents, or 1.8 per cent, to $78.31.
The more active July contract lost $1.55, or 1.9 per cent, to $77.75.
Bullion
Gold prices slipped on Tuesday as US Federal Reserve policymakers stuck to a cautious tone on monetary policy.
Spot gold fell 0.3 per cent at $2,417.95 per ounce, as of 0900 GMT, after scaling a record high of $2,449.89 on Monday. US gold futures fell 0.7 per cent at $2,421.70.
Spot silver fell 0.6 per cent to $31.64 after hitting an over 11-year high in the last session.
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Published: 21 May 2024, 08:16 PM IST
