The blue-chip Dow Jones Industrial Average (.DJI)New Tab, opens new tab closed essentially unchanged.
The Dow Jones Industrial Average (.DJI)New Tab, opens new tab fell 9.13 points, or 0.02%, to 38,883.67.
Nine the 11 major sectors in the S&P 500 closed higher, with real estate (.SPLRCR)New Tab, opens new tab enjoying the largest percentage gains.
Financials (.SPSY)New Tab, opens new tab were the biggest laggards.
Analysts are expecting aggregate S&P 500 first-quarter earnings growth of 5.0% year-on-year, down from 7.2% at the start of the quarter, according to LSEG.
Exchange operator Coinbase Global (COIN.O)New Tab, opens new tab and software company MicroStrategy (MSTR.O)New Tab, opens new tab dipped 5.5% and 4.8%, respectively.
Moderna (MRNA.O)New Tab, opens new tab was a bright spot, jumping 6.2% after the drugmaker’s individualized cancer vaccine developed with Merck (MRK.N)New Tab, opens new tab showed promise in an early-stage trial.
Alphabet Inc’s (GOOGL.O)New Tab, opens new tab shares gained 1.1%, pushing the company closer toward the $2 trillion market cap threshold.
NEW YORK, April 9 (Reuters) – A day ahead of significant inflation data, the Nasdaq and SandP 500 saw modest gains on Tuesday, with financial stocks leading the way as investors got ready for significant U. s. This Friday is the first day that banks will report earnings.
The heavily weighted Nasdaq Composite Index (. (IXIC) New Tab, opens with a chip boost. The S&P 500 (.) saw a more notable increase with the SOX)New Tab, which opens new tab. SPX)New Tab: Opens a new tab with a theoretical elevation.
The Dow Jones Industrial Average, a benchmark index, is. DJI) New Tab, opens and closes the tab virtually unaltered.
In the wake of strong economic data, including last Friday’s employment report that set records, most investors are focusing on Wednesday’s highly anticipated Consumer Price Index (CPI) as they adjust expectations regarding the timing and scope of the Federal Reserve’s rate-cutting phase.
According to Michael Green, chief strategist at Simplify Asset Management in Philadelphia, “the markets are nervous about tomorrow’s CPI report and buying protection (amid) a growing perception that it could be an uncomfortably high inflation reading.”. “The market is starting to protect itself. “.
The JPMorgan Chase & Co. (JPM. N)Opens a new tab and selects Wells Fargo & Co (WFC). N) New Tab opens, followed by Citigroup Inc (C). N)New Tab, opens new tab, the three components of the S&P Banking index were the subject of a report on Friday. New Tab: SPXBK opens a new tab to close it.
According to Bill Northey, senior investment director at U.S. Bank, “the financials set the tone and often kick off first-quarter reporting season.”. s. Billings, Montana-based Bank Wealth Management. The cyclical areas are what we’re using to gauge how well corporate America is doing. “.
Even so, analysts predict that inflation will keep stumbling toward the U. s. The National Federation of Independent Business reported on Tuesday that, despite the central bank’s 2 percent target, small business optimism fell to an 11-year low in March, with inflation being the main source of concern.
“It’s actually really important that the small business sentiment index keeps getting worse,” said Green. The bigger corporations are well-protected while small businesses face extreme pressure—a situation that has repeated itself in the last few cycles. “.”.
The average Dow Jones is (. DJI)New Tab, opens new tab dropped to 38,883.67, a decrease of 9.13 points or 0.02 percent. Specifically, the S&P 500 (. The SPX New Tab opened and gained 7 points 52 points, or 0.14%, at 5,209 points 91 and the Nasdaq Composite (. IXIC)New Tab, opens a new tab at 16,306.64, adding 52.68 points, or 0 point32 percent.
Real estate led nine of the S&P 500’s eleven major sectors that closed higher. The largest percentage gains are experienced when a new tab is opened with SPLRCR. The money (. The biggest laggards were SPSY)New Tab, opens new tab.
According to LSEG, analysts anticipate that the S&P 500 will grow its earnings by 5 points, on an annual basis, in the first quarter. This is a decrease from the previous quarter’s 7 points, 2 percent growth.
Stocks connected to cryptocurrencies and blockchain technology fell along with the price of bitcoin. The exchange company Coinbase Global (COIN. O)Opens a new tab and MicroStrategy (MSTR), a software company. O)New tab, which opens, decreased by 5 and 4 points, respectively.
Moderna (mRNA). O)New Tab, opens new tab jumped 6.2 percent following the drugmaker’s customized cancer vaccine created in partnership with Merck (MRK). In an early-stage trial, N)New Tab, opens new tab, showed promise.
The (GOOGL) Alphabet Inc. O)New Tab, opens new tab shares increased by 1.1 percent, bringing the business closer to the $2 trillion market capitalization threshold.
On the NYSE, advances outnumbered decliners by a ratio of 1:44; on Nasdaq, the ratio was 1:33 in favor of advances.
The Nasdaq Composite recorded 62 new highs and 77 new lows, while the S&P 500 recorded 13 new 52-week highs and one new low.
Amount on U. S. 10 point31 billion shares were exchanged, as opposed to the 10 point31 billion average for the entire session over the previous 20 trading days.
Richard Chang handled editing; additional reporting was done in Bengaluru by Shashwat Chauhan and Shristi Achar A. Stephen Culp handled reporting.
