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US stocks may open in mixed notes.Focus on inflation data

Data on rising consumer prices in the US could set the trend for US stocks on Tuesday morning. Key index futures are now showing a slightly flat start, with little change from previous levels.

Data on the consumer price index for August will be released at 8:30 EST. The consumer price index rose 0.9% in June and then 0.5% in July. Reading in June was the largest increase since June 2008.

Both the Dow and the S & P 500 recorded five consecutive losses, with stock prices almost rising on Monday. However, the Nasdaq went against the uptrend as the tech-heavy index fell in four consecutive sessions.

The Dow rose 261.91 points (0.8%) to 34,869.63 and the S & P 500 rose 10.15 points (0.2%) to 4,468.73. The Nasdaq, on the other hand, fell below its worst level, but still fell 9.91 points (0.1%) to 15,105.58.

Oracle Corp. (ORCL) reported first-quarter earnings on Monday, driven by continued demand for cloud services and other software, which exceeded Wall Street’s estimates. However, quarterly earnings were lower than analysts expected.

Oracle’s first-quarter earnings were $ 2.46 billion, $ 0.86 per share, up from last year’s $ 2.25 billion, $ 0.72 per share. Revenue for the quarter increased 4% from $ 9.37 billion last year to $ 9.73 billion. Analyst consensus revenue is estimated at $ 9.77 billion.

The focus will be on Apple Inc. (APPL). The company plans to announce new versions of the iPhone, Apple Watch and Airpods.

Asian stocks closed mixed on Tuesday as investors were waiting for US inflation data. health The largest in the world Economy And when the Federal Reserve can start rolling back simple credit and other stimuli.

European equities have been significantly curtailed by investors’ cautious moves and anticipating US inflation data for hints on monetary policy outlook.

In commodities, West Texas Intermediate crude oil futures continue to rise. WTI crude oil futures in October were up $ 0.30 or 0.43% at $ 70.75 a barrel.

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US stocks may open in mixed notes.Focus on inflation data

Source link US stocks may open in mixed notes.Focus on inflation data

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