Wall Street Mixed as Markets Await US CPI Data
US stock markets traded mixed on Tuesday (Aug 11) as investors scrutinized energy prices and the likelihood of a Federal Reserve interest rate hike this year. The S&P 500, Dow, and Nasdaq 100 saw limited movement, with the S&P 500 briefly testing record territory.
At the opening bell, the Dow Jones Industrial Average fell 14.4 points (0.03%) to 53,961.6. The S&P 500 rose 14.4 points (0.19%) to 7,767.51, while the Nasdaq Composite gained 66.8 points (0.25%) to 26,672.17.
Market sentiment received a slight boost from reports that the US and Iran are nearing an agreement to end a conflict that has lasted roughly six months. Officials from Pakistan and Qatar also signaled optimism that such a deal could help restore oil trade through the Persian Gulf.
In the equity market, a decline in bond yields allowed banking stocks—including JPMorgan and Goldman Sachs—to post modest gains. Meanwhile, Nvidia rose 1.5% after privately raising $500 billion with banks to build out more AI infrastructure. Conversely, Intel fell another 1.5%—following a 4% drop earlier—after raising its planned share sale from $15 billion to $20 billion.
Regarding market impact, Wall Street remains cautious ahead of Wednesday's US CPI data release. If inflation exceeds forecasts, expectations for a Fed rate hike next month could intensify, putting pressure on stocks. However, if the CPI cools and signs of a US-Iran peace deal become clearer, "risk-on" sentiment could once again support the S&P 500 and Nasdaq. (asd)
Source: Newsmaker.id
