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Stock market today: Tech leads S&P, Nasdaq higher as bank stocks drag on Dow

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Jpmorgan Chase,Consumer Inflation,Net Interest Income

Investors are gearing up for a consumer inflation print seen as crucial to determining the size of the first US interest-rate cut in years.

US stocks closed mixed in a rollercoaster session on Tuesday as investors geared up for a looming consumer inflation report seen as crucial to determining the size of the first US interest-rate cut in years. The benchmark S&P 500 reversed earlier losses to finish the day about 0.5% higher. The tech-heavy Nasdaq Composite did the same, closing up roughly 0.9%. The Dow Jones Industrial Average recovered from steeper losses but still closed down 0.2%, or around 80 points.

The volatile moves follow Monday's sharp rebound, which saw the major gauges surge over 1% as investors went post-rout bargain hunting. Volatility is stalking the markets as investors waver between hopes for a hefty 0.5% rate cut from the Federal Reserve and worries about recession risks. August's consumer inflation reading on Wednesday should provide some clues after the monthly jobs report left the market guessing on just how much the central bank will cut rates.

 

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