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US stocks closed mixed Tuesday as investors took in the first of two key inflation reports this week, which showed prices rose less than expected in December. Also in focus was a report that the incoming Trump administration could hike tariffs more gradually to ease inflationary pressures.
Investors will now turn their attention to Wednesday morning's update on consumer prices, which are expected to remain sticky as the Federal Reserve continues its inflation fight.
On Tuesday, the benchmark S&P 500 (GSPC) finished the trading day about 0.1% higher, while the tech-heavy Nasdaq Composite (IXIC) dropped around 0.2% following a bumpy session on Wall Street. The Dow Jones Industrial Average (DJI) moved roughly 0.5% higher to cap off back-to-back winning days for the blue-chip index.
The Producer Price Index, which tracks price changes companies see at a wholesale level, rose 3.3% over last year, up from 3% in November but less than economists expected. It rose 0.2% over the previous month, also less than expected. The report lays the groundwork for Wednesday's heavily anticipated CPI print.
Meanwhile, President-elect Donald Trump's team is considering a month-by-month rollout of promised tariff increases rather than imposing higher levels in a single move, Bloomberg reported, in a bid to
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2025/01/14
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