Live Markets: U.S. stocks end mixed with CPI on deck

Ally Financial

10/09/2024 21:11

* 
      Nasdaq up ~0.8%, S&P 500 up ~0.4%, Dow dips ~0.2%
    

        * 
      Real Estate leads S&P 500 sector gainers; Energy weakest
group
    

        * 
      S&P banks index down ~3%
    

        * 
      Dollar ~flat; gold up; bitcoin rallies ~1.5%; crude slides
~3.5%
    

        * 
      U.S. 10-Year Treasury yield falls to ~3.65%
    

  
Welcome to the home for real-time coverage of markets brought to
you by Reuters reporters. You can share your thoughts with us at

    
    U.S. STOCKS END MIXED WITH CPI ON DECK 
    Wall Street's main indexes ended mixed on Tuesday ahead of
key inflation data later this week that could provide clarity on
the extent of next week's expected Federal Reserve's interest
rate cut, while a fall in the shares of big banks weighed on the
markets.
    The S&P 500 banks index  .SPXBK  lost about 3% as executive
comments clouded optimism over easing capital requirements. A
slump in shares of Ally Financial  ALLY.N  also weighed on
sentiment.
    Energy stocks  .SPNY  were especially weak. This as NYMEX
crude futures  CLc1  are off around 3.5%.
    That said, thanks to strength in FANG names  .NYFANG , the
tech-laden Nasdaq Composite  .IXIC  advanced ~0.8%, while the
S&P 500  .SPX  gained modestly. The Dow  .DJI  dipped.
    Growth  .IGX  enjoyed its best day vs value  .IVX  in nearly
a month.
    Investors are keenly focused on August CPI due Wednesday and
then PPI coming on Thursday as to what impact that data may have
on the FOMC when it meets next week.
    The headline CPI, on a month-over-month basis, is expected
at 0.2% vs a 0.2% read last month. The year-over-year print is
expected to come in at 2.6% vs 2.9% last month.
    The month-over-month core reading is forecasted to be 0.2%
vs a 0.2% read last month. The year-over-year core number is
forecasted to be 3.2% vs a 3.2% print last month.
    Meanwhile, the U.S. 10-year Treasury yield  US10YT=RR ,
which is now around 3.65%, hit a fresh low back to early June
2023, and is on pace to fall for a sixth day in a row. The yield
fell eight-straight days into its early-August trough.
    Here is a snapshot of where markets stood just shortly after
1600 EDT/2000 GMT:
    
    
    (Terence Gabriel)
     *****
     
    
    FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:
    
    AS DUST SETTLES ON Q2 SEASON, MAG 7 ENDS WITH STRONG PROFIT
GROWTH - CLICK HERE
    
    INVESTORS FLEE CRYPTO FUNDS IN LARGEST EXODUS SINCE MARCH -
COINSHARES - CLICK HERE
    
    TIN A HOT COMMODITY, LIKELY TO CONTINUE TO OUTPERFORM -
CLICK HERE
    
    BLACKROCK LOOKS BEYOND TECH FOR AI RETURNS - CLICK HERE
    
    SMALL BUSINESS SENTIMENT SOURS, OUTSTANDING CONSUMER CREDIT
SURGES - CLICK HERE
    
    BULLS AND BEARS DEBATE AHEAD OF BIG INFLATION DATA SPATE -
CLICK HERE
    
    REAL ESTATE IS LOW HANGING FRUIT, FUND MANAGER SAYS - CLICK
HERE
    
    BENCHMARK TREASURY YIELD DOWN 5 STRAIGHT DAYS, BRACING FOR
CPI - CLICK HERE
    
    APPLE'S PUSH INTO AI SHOWS TREND INTACT - UBS - CLICK HERE
    
    EUROPEAN REAL ESTATE "TURNING A CORNER" - CLICK HERE
    
    AI STILL "BIG CALL", BUT BLACKROCK TURNS SELECTIVE- CLICK
HERE
    
    NEW HIGH FOR UTILITIES - CLICK HERE
    
    EUROPE BEFORE THE BELL: BOUNCE LOSES STEAM - CLICK HERE
    
    CHINA GLOOM OVERSHADOWS WALL STREET-LED REBOUND - CLICK HERE



    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Closer09102024    https://tmsnrt.rs/3XowyGL
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Terence Gabriel is a Reuters market analyst. The views
expressed are his own)