U.S. stock averages closed in the red Tuesday, despite popping earlier in the session following a cooler-than-expected inflation reading.
 | TUE, SEP 14, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 148.12 | -1.43 | -0.96% | | INTC | 54.52 | -0.47 | -0.85% | | MSFT | 299.79 | +2.80 | +0.94% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 148.12 | -1.43 | -0.96% | | CMCSA | 55.59 | -4.38 | -7.30% | | BAC | 39.84 | -1.10 | -2.69% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 148.12 | -1.43 | -0.96% | | CMCSA | 55.59 | -4.38 | -7.30% | | AMD | 105.73 | +0.93 | +0.89% | |
| |
U.S. stock averages closed in the red Tuesday, despite popping earlier in the session following a cooler-than-expected inflation reading. Stocks are under pressure in September, the worst month for markets historically. Indeed, the S&P 500 is down 1.7% for September, while the Nasdaq Composite has lost 1.4%. The Dow is off 2.2% for the month. In recent sessions, stocks hit intraday highs early in the trading day, then roll over from those highs. "Selling the open has become the new play," Mike Santoli, CNBC's senior markets commentator, said in a column Tuesday. "Clearly some tactical caution among institutions and wariness about seasonals, the Federal Reserve, and the summer slowdown's effect on Q3/Q4 earnings."  Lower-than-feared inflation numbers appeared to boost market sentiment early in the session, but the data did not stem the sell-off as the day went on. Consumer prices rose 0.3% in August from the month prior and 5.3% from a year ago, the Labor Department reported Tuesday. Both readings came in slightly under economists' expectations. The core consumer price index, excluding food and energy, was up just 0.1% for the month. The Federal Reserve is keeping an eye on inflation and labor market readings as it decides the pace of tapering its pandemic-era easy monetary policy. |
Post a Comment