NEW YORK, April 9 — Wall Street stocks were mixed early today as investors awaited inflation data that will influence key upcoming Federal Reserve decisions.
Today’s consumer price index report comes as market watchers have begun to weigh the greater likelihood of stickier inflation that keeps interest rates higher for longer.
About 30 minutes into trading, the Dow Jones Industrial Average was down 0.2 per cent at 38,831.61.
The broad-based S&P 500 added 0.1 per cent at 5,206.06, while the tech-rich Nasdaq Composite Index gained 0.3 per cent to 16,309.02.
The rise in US Treasury bond yields reflects shifting expectations on interest rates, but stocks have largely taken things in stride.
“Part of this is due to the recent measured, rather than dramatic, increase in yields,” said a note from DataTrek Research. “The other is attributable to expectations for better earnings.” — AFP
