Tech buoys broader stock market early Tuesday but the Dow weighed by slump in Goldman

U.S. stock benchmarks early Tuesday were trading mixed to mostly higher, with investors in a waiting pattern ahead of another round of inflation data on Thursday. The Dow Jones Industrial Average

was trading 0.1% lower at 34,578, but hanging near its record closing high from early May. A 1.3% decline in shares of Goldman Sachs Group Inc.

was weighing on the Dow. The S&P 500 index

was trading 0.1% higher at 4,232, knocking on the door of its highest closing level since May 7, while the Nasdaq Composite Index

was gaining 0.5% at 13,954. Stocks have been stuck in a trading range for several weeks, with the Dow and S&P 500 index trading not far off all-time highs, as investors look for a fresh catalyst and await data on inflation pressures. The release Thursday of the May consumer-price index is shaping up to be the main data event of the week. A hotter-than-expected read on the April CPI, which rose 4.2% year over year, temporarily rattled markets last month. In corporate news, Southwest Airlines

said it recently entered into an agreement with Dow component Boeing Co.

to increase its 2022 orders by 34 Boeing 737 MAX 7 planes, bringing the total to 234 firm orders. Boeing shares rose 1.4%. In economic reports, April data released Tuesday morning showed the U.S. international trade deficit narrowed to $68.9 billion from a record $75 billion a month earlier. Economists surveyed by Dow Jones Newswires and The Wall Street Journal had looked for a consensus $69 billion gap.

Read More: Tech buoys broader stock market early Tuesday but the Dow weighed by slump in Goldman

2021-06-08 13:39:00

Notify of
Inline Feedbacks
View all comments