NEW YORK — U.S. stock indexes are drifting in the runup to the latest update on inflation due out Wednesday. The S&P 500 was flat early Tuesday, a day after pulling back from its latest all-time high. The Dow Jones Industrial Average slipped 177 points, and the Nasdaq composite rose 0.4%. Eli Lilly rose after increasing its dividend and approving a plan to buy back up to $15 billion of its stock. Oracle fell after reporting growth that fell just short of analysts’ expectations.
They’re the last big pieces of data the Federal Reserve will get before its meeting next week, where many expect the year's third interest rate cut. Homebuilder Toll Brothers beat Wall Street sales and profit targets but its stock fell 3.5% in premarket trading. The Shanghai Composite index gained 0.6% to 3,422.66 while Hong Kong's Hang Seng shed early gains, falling 0.5% to 20,311.28 as traders sold to lock in profits from earlier gains.
Tokyo's Nikkei 225 gained 0.5% to 39,367.58, while the Kospi in South Korea jumped 2.4% to 2,417.84, recovering some of its recent losses as the country's recent political turmoil simmered on.
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