U.S. stocks are indicated to see muted moves Tuesday, with the S&P 500 and Nasdaq Composite inching toward further records, as investors await a report on...
U.S. stocks were indicated to see muted moves on Tuesday, with the S&P 500 index and Nasdaq Composite inching toward further records, as investors awaited a report on producer prices and a report on retail sales due at 8:30 a.m. Eastern Time.
How are stocks benchmarks performing? On Monday, the Nasdaq Composite COMP, +0.74% rose 104.72 points to close at a record 14,174.14, a gain of 0.7%, marking its first record since April 26, while the S&P 500 index SPX, +0.18% rose 7.71 points, or 0.2%, to market its 29th record closing high of 2021.
What’s driving the market? Central bankers and investors on Tuesday will parse data on U.S. retail spending and producer prices, looking for further evidence of rising inflation. So far the U.S. stock market has been trading as if higher inflation in the recovery phase from the COVID pandemic will be a short-lived phenomenon, caused temporarily by easing of economic restrictions and supply-chain bottlenecks.
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