U.S. stock indexes held at a near-standstill again, as traders made their final moves ahead of some potentially market-moving reports.
U.S. stock indexes held at a near-standstill again on Tuesday, as traders made their final moves ahead of some potentially market-moving reports. The S&P 500 edged up 7.52 points, or 0.1%, to 5,209.91 after barely budging the day before. The Dow Jones industrial average slipped 9.13 points, or less than 0.1%, to 38,883.67, while the Nasdaq composite rose 52.68 points, or 0.3%, to 16,306.64.
Although a jump in oil prices this year has raised worries about a feed-through into inflation, oil would probably need to rise “well above levels seen even in the peak Russia-Ukraine commodity price spike for a meaningful impact on core inflation,” the Bank of America strategists said in a BofA Global Research report. A barrel of benchmark U.S. crude fell $1.20 to settle at $85.23, trimming its year-to-date gain to less than 20%. Brent crude, the international standard, fell 96 cents to $89.
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