US stock indices were mixed on Tuesday as investors are awaiting the US Federal Reserve’s preferred inflation data later in the week.
The US core Personal Consumption Expenditures (PCE) price index report for April is due on Friday.
At 10:14 a.m. ET, the Dow Jones Industrial Average was down 135.40 points, or 0.35 per cent, at 38,934.19, the S&P 500 was down 0.77 points, or 0.01 per cent, at 5,303.95, and the Nasdaq Composite was up 54.70 points, or 0.32 per cent, at 16,975.49.
ALSO READ: Wall Street week ahead: Investors’ focus on Fed preferred inflation gauge
At the opening bell, the Dow Jones Industrial Average fell 40.6 points, or 0.10 per cent, to 39,028.99. The S&P 500 rose 11.2 points, or 0.21 per cent, to 5,315.91, while the Nasdaq Composite rose 67.5 points, or 0.40 per cent, to 16,988.315.
Nvidia stock climbed 4.5 per cent bringing its gain for the year so far to 125%.
Apple shares added 0.9 per cent after iPhone sales in China soared 52 per cent in April.
GameStop stock climbed 16.2 per cent after the videogame company said on Friday that it had raised $933 million by offloading 45 million shares.
Pharma shares fell on Tuesday, with Moderna down 7.5 per cent, Merck lost 2.4 per cent and Vertex Pharmaceuticals edged lower 2.2 per cent.
A report showed that consumer confidence for May was stronger than expected.
The yield on the 10-year Treasury rose to 4.48 per cent from 4.47 per cent late on Friday.
Crude oil
Oil prices rose on Tuesday as tensions flared in the Middle East after a vessel was attacked in the Red Sea and on reports that Israeli tanks reached the center of Rafah.
The benchmark Brent was above $83 a barrel, while West Texas Intermediate topped $79.
Bullion
Gold prices were steady on Tuesday, as the US dollar fell.
Spot gold was flat at $2,349.78 per ounce by 10:16 a.m. ET (1416 GMT), after rising 1 per cent on Monday.
US gold futures added
0.7 per cent at $2,350.20.
Silver lost 0.1 per cent to $31.64 after a 4.4 per cent jump on Monday.
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Published: 28 May 2024, 07:40 PM IST
