the Street Search team are searching for direction ahead of the session on Wall Street on Wednesday.
Investors also will be closely monitoring the inflation details from the U.S. Labor Department, which will release its Consumer Price Index on Wednesday for September.
It is a gauge of how inflation is pressuring costs for consumers. Additional information on inflation pressures is due Thursday when the Labor Department releases its producer price index.
Prices for oil and other commodities have surged along with the prices of petroleum and other oils. Shortages of semiconductors have meanwhile slowed output of many high-value industrial goods such as cars and consumer electronics.
The Major indexes traded on Tuesday between small gains and losses for most of the day at Wall Street, before selling gained momentum in the final minutes of trading. The S&P 500 fell 0.2% to 4,350. The Dow fell 0.3% to 34,378. The Nasdaq fell 0.1% to 14,465. Small company stocks, a gauge of confidence in economic growth, fared better than the broader market, driving the Russell 2000 index 0.6% higher to 2,234. The pullback in the S&P 500 index marked the index's third straight decline. After two days, the index has offset its loss of 0.8% gain last week.
The next round of earnings reports will give Wall Street a clearer picture of how companies fared in the most recent quarter amid a surge in COVID 19 cases. It will also shed some light on how they see themselves throughout the rest of the year.
Bank earnings will be released on Wednesday by JPMorgan Chase. Bank of America, Wells Fargo and Citigroup will follow on Thursday with their latest quarterly results to watch closely.
Many industries are facing the pinch from rising inflation with higher costs for shipping and raw materials. Companies are warning that their financial results could suffer because of supply chain problems.
The supply chain crisis has also raised prices on many products for consumers, which could further hurt consumer spending and reduce the economic recovery. Investors will get the most updated consumer spending when the Commerce Department releases its retail sales report for September on Friday.
Since the up and down of Wall Street on Wednesday, shares were mixed in Asia as traders waited for updates on inflation and corporate earnings to report.
The Nikkei 225 Index fell 0.3% in Tokyo to 28,158. 28 and the S&P ASX 200 edged 0.1% less below 7,276 to 7.3%. The Shanghai Composite index declined 0.4% to 3,534. Do South Korean Kospi gained 0.2% to 2,945. Markets have been choppy for weeks as investors try to figure out how the economy will continue its recovery with COVID - 19 remaining a threat and rising inflation potentially crimping consumer spending and corporate finances.
New. China s producers price index will be released today. In August, economists forecasted a surge of over 10% year-on-year, up from 9.5% in August.
The yield on the 10-year Treasury fell from 1.60% late Thursday to 1.58%. The bond market closed on Monday for Columbus Day.
In electronic trading, the U.S. benchmark crude oil lost 16 cents to $80.48 per barrel on the New York Mercantile Exchange in other trading. It gained 12 cents to $80.64 per barrel on Tuesday.
The U.S. dollar fell to 113.46 Japanese yen against 113.59 yen late Tuesday. The dollar rose to $1.1553 from $1.1530.