As traders anticipate earnings news from market leader Nvidia (NVDA) and critical inflation data, stocks exhibited a lackluster performance on Tuesday. Following a session of record highs on Monday, the Dow hovered near the unchanged line throughout the day.Presently, major indexes show modest gains. The Dow is up 10.15 points, or less than 0.1%, at 41,250.67. The Nasdaq has risen by 49.91 points, or 0.3%, to 17,775.68, while the S&P 500 gained 12.95 points, or 0.2%, to 5,629.79.In anticipation of Nvidia’s fiscal second-quarter results set to release after the market closes on Wednesday, traders exhibited caution. Nvidia shares are currently increasing by 1.7%, recovering from a 2.3% drop in the prior session.Anticipation also surrounds the Commerce Department’s upcoming report on July’s personal income and spending, which includes the Federal Reserve’s preferred inflation metrics, due on Friday.Economists predict that the report will show the annual consumer price growth rate holding steady at 2.5%, with core consumer prices expected to inch up to 2.7% in July from 2.6% in June.While this data is unlikely to dampen expectations for a Fed rate cut next month, it might influence projections on the pace of subsequent cuts. At the Jackson Hole Economic Symposium last Friday, Fed Chair Jerome Powell acknowledged the necessity of policy adjustment but emphasized that “the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”On the U.S. economic front, the Conference Board reported a surprising improvement in U.S. consumer confidence for August. The consumer confidence index increased to 103.3 in August from a revised 101.9 in July, defying economist expectations of a slight decline to 100.1.**Sector News**Most major sectors showed only slight movements, contributing to the broader market’s uninspired performance. However, telecom stocks reported significant weakness, with the NYSE Arca North American Telecom Index dropping by 1.8%. Networking stocks also faced notable declines, as evidenced by a 1.3% reduction in the NYSE Arca Networking Index. Meanwhile, housing and transportation stocks moved lower, whereas semiconductor stocks began to recover after Monday’s sharp fall.**Other Markets**In overseas markets, Asia-Pacific stocks experienced mixed results on Tuesday. Japan’s Nikkei 225 Index rose by 0.5%, while China’s Shanghai Composite Index decreased by 0.2%. European markets also exhibited mixed trends post-early strength. The French CAC 40 Index fell by 0.2%, whereas the U.K.’s FTSE 100 Index increased by 0.2% and the German DAX Index climbed by 0.4%.In the bond market, treasuries continued their decline from the previous session. The yield on the benchmark ten-year note, which moves inversely to its price, increased by 2.8 basis points, reaching 3.846%.The material has been provided by InstaForex Company – www.instaforex.com
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