Ahead of the Jackson Hole symposium later this week and the release of the minutes from the Federal Reserve’s most recent policy meeting, US markets were neutral on Tuesday.
Investors will try to look for hints from the two incidents at the September monetary policy meeting.
The S&P 500 gained 5.71 points, or 0.10 per cent, to 5,613.96 at 09:51 a.m., the Nasdaq Composite gained 15.43 points, or 0.09 per cent, to 17,892.20, and the Dow Jones Industrial Average dipped 46.91 points, or 0.11 per cent, to 40,849.62.
The Dow Jones Industrial Average dropped 22.0 points, or 0.05 per cent, to 40,874.52 at the opening bell. The Nasdaq Composite slid 27.7 points, or 0.15 per cent, to 17,849.087, while the S&P 500 fell 5.4 points, or 0.10 per cent, to 5,602.88.
On Wednesday, the Fed’s most recent policy meeting minutes are expected.
The stock of chip giant Nvidia dropped 2.7%.
Palo Alto Networks surged 6.4% on the cybersecurity firm’s latest quarter earnings and revenue announcement.
Eli Lilly increased by 4% following the announcement by the pharmaceutical company that its weight-loss medication reduced type 2 diabetes risk in pre-diabetic persons by 94%.
The automaker’s shares increased by 1.1% upon learning that the duty on its exports of China-made vehicles to the EU would be lowered.
A component between the engine and the aeroplane structure failed to function during a maintenance check, causing Boeing to halt test flights of its 777-9 models while it awaits approval. This caused Boeing’s shares to drop 2.5 per cent.
The 10-year Treasury bond’s yield dropped from 3.87 per cent late on Monday to 3.83 per cent today in the bond market.
Crude oil
Due to tensions in the Middle East and worries about Chinese demand, oil prices fell on Tuesday.
As of 12:36 GMT, Brent crude was trading at $77.64 per barrel, down 2 cents, or 0.03 per cent. US West Texas Intermediate (WTI) oil futures for the front month fell 4 cents, or 0.05 per cent, to $74.33.
Bullion
Tuesday’s record surge in gold prices was sustained by the US dollar’s decline.
Spot gold increased 1.1% by 9:59 am ET [1359 GMT] to $2,530.40 an ounce. US gold futures increased to $2,569.00, up around 1.1%.
Spot silver increased by 1.2% to $29.84 an ounce.
