Stock market today: Wall Street quiet ahead of reports on consumer confidence, job openings

NEW YORK — Wall Street is quiet ahead of some potentially market-moving jobs data and a survey reflecting consumers’ feelings about the economy. The S&P 500 rose 0.1% and the Dow was essentially unchanged as trading opened Tuesday. At 10 a.m., investors will get an update on consumer confidence, which jumped sharply in July and is expected to remain strong in August. Also Tuesday, the government will issue a report on job openings in July.

Investors and economists will be focusing closely on the government’s latest inflation update on Thursday. The report on personal consumption and expenditures is the Fed’s preferred measure as it tries to rein inflation back to 2%. In equities trading, Best Buy shares rose a little more than 1% after the retailer beat Wall Street's second-quarter targets even as profit and sales declined from a year ago. That's been a consistent theme for retailers this quarter, as many have beaten modest expectations while reporting declining sales as consumers tighten their budgets.

Markets are hoping to scratch out more gains before the end of the month after rebounding last week week for their first winning week in what’s been a brutal August for stocks in an otherwise gangbuster year. U.S. Commerce Secretary Gina Raimondo said she and her Chinese counterpart agreed Monday to exchange information on U.S. export controls and set up a group to discuss other commercial issues. That signals possible hopes about bilateral communication, but various conflicts remain, including over technology, security and human rights.

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