Trading was mixed and light early Tuesday as inflation, interest rates, and geopolitical issues continue to hang over Wall Street and global markets, the Associated Press reports.
Futures for the S&P 500 rose 0.1% before the bell, while futures for the Dow Jones Industrial Average fell 0.1%. The Nasdaq gained 0.4% early, clawing back some of the previous day’s losses.
Stock prices have surged this year on hopes that a recession expected after the Federal Reserve and central banks in Europe and Asia raised interest rates to cool inflation might come later and be shorter and shallower than previously forecast.
The S&P 500 hit a peak for the year two weeks ago before enthusiasm eased. Last week was the index’s first losing week in the past six.
A report Friday will show how the Federal Reserve’s preferred measure of inflation behaved in May.
Traders are betting June inflation data due out next month will push the Fed to raise rates by a quarter of a percentage point at its next meeting, which runs July 25–26.
The dollar edged up to 143.68 yen from Monday’s 143.45 yen. The euro rose to $1.0945 from $1.0915.
