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
DJIA,
-0.12%

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.
GS,
-1.29%

was weighing on the Dow. The S&P 500 index
SPX,
+0.15%

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
COMP,
+0.72%

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
LUV,
+0.75%

said it recently entered into an agreement with Dow component Boeing Co.
BA,
+0.39%

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

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments