NEW YORK — Stocks are barely budging in early trading on Wall Street as markets wait for a key report on inflation. The S&P 500 was up about 0.1% in the early going Wednesday. The Nasdaq composite was up 0.3%, and the Dow Jones Industrial Average fell 35 points, or 0.1%. Walgreens Boots Alliance sank more than 22% after reporting results that fell shy of forecasts and cutting its outlook. The company said it could close hundreds more stores in the next three years.
The latest updates on inflation could influence the central bank’s decision on when to begin cutting interest rates, which remain at their highest level in more than 20 years and which are having an impact worldwide. In markets, Boeing is down slightly after it was sanctioned by U.S. investigators for sharing information about a federal investigation of a door plug blowout that left a gaping hole in a Boeing 737 Max 9.
In Asian trading, another set of measures to boost the Chinese property market failed to lift market sentiment. Hong Kong's Hang Seng fell 2.1% to 17,716.47, while the Shanghai composite index was down 0.9% at 2,945.85. In Tokyo, the Nikkei 225 index lost 0.8% to 39,341.54 amid concern over further weakness in the Japanese yen.
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