Stock Market Today: Mixed and Low-key Trading on Wall Street Ahead of US Inflation Data
Wall Street is holding steady as we wait for the latest updates on inflation, set to be released tomorrow. The S&P 500 is staying flat, while the Dow Jones Industrial Average slipped 177 points, and the Nasdaq composite rose 0.4%.
Eli Lilly is on the rise after increasing its dividend and approving a plan to buy back up to $15 billion of its stock. On the other hand, Oracle fell slightly after reporting growth that missed analysts’ expectations. Treasury yields saw a minor increase.
In Europe, Germany’s DAX edged 0.1% higher, while the CAC 40 in Paris and Britain’s FTSE 100 each fell 0.6%. Over in Asia, the Shanghai Composite index gained 0.6% to 3,422.66, while Hong Kong’s Hang Seng fell by 0.5% to 20,311.28. Tokyo’s Nikkei 225 gained 0.5% to 39,367.58, and the Kospi in South Korea jumped 2.4% to 2,417.84, recovering from recent losses amid political turmoil.
Chinese leaders are moving towards a “moderately loose” monetary policy to boost their economy, a significant shift from their previous stance. All eyes are on the upcoming major planning meeting on Wednesday for more insights into the Chinese economy.
Overall, the markets seem to be holding steady as we wait for key inflation data and keep an eye on global economic developments.
