Nasdaq crosses 17,000 mark ahead of inflation test
- Wall Street's main indexes were mixed on Tuesday as traders returned from a holiday-extended weekend, with the focus on key inflation data later in the week that could influence expectations for the Federal Reserve's rate-cut path.
Traders see a 51.2% chance the first rate cut could happen in September, according to the CME FedWatch Tool. U.S. trading moves to a shorter settlement on Tuesday, which regulators hope will reduce risk and improve efficiency, but is expected to temporarily increase transaction failures for investors.
Advancing issues outnumbered decliners by a 1.22-to-1 ratio on the NYSE and by a 1.03-to-1 ratio on the Nasdaq.
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