Stocks are Little Changed as Year-End Rally Pauses, Oracle Shares Drop
Stocks were little changed on Tuesday, as traders digested a year-end rally to record levels while awaiting new U.S. inflation data set for release this week.
The S&P 500 rose about 0.1%, and the Dow Jones Industrial Average shed 88 points, or 0.2%. The Nasdaq Composite gained nearly 0.3%.
Oracle shares slumped more than 8% after the database software company posted fiscal second quarter results that missed Wall Street’s estimates. The stock has jumped more than 60% this year.
The major averages fell on Monday. The S&P 500 and the Nasdaq Composite slid about 0.6%, dropping from recent records as Nvidia shares declined. Those moves knocked stocks off of record levels.
Investors are now waiting on the U.S. consumer price index report, which is due Wednesday and could influence how the Federal Reserve proceeds on interest rates at its Dec. 17-18 meeting. Economists polled by Dow Jones forecast that headline inflation rose 0.3% in November and 2.7% over the prior 12 months.
Source : CNBC
