new York US stock markets failed to find common ground on Tuesday in anticipation of inflation data due on Wednesday. The Dow Jones index of standard values gained 0.3 percent to 33,685 points. The broader S&P 500 was virtually unchanged at 4109 points. The index of the technology exchange Nasdaq lost 0.5 percent to 12,032 places.
Market participants are hoping that consumer price data will provide further clues to future monetary policy moves by the US Federal Reserve. “There’s a good chance that monetary authorities will pause on rate hikes after good news about inflation trajectories,” said economist Peter Cardillo of financial services provider Spartan Capital Securities.
However, a transition to rate cuts is very unlikely, said Tim Ghriskey, an investment strategist at brokerage firm Inverness Counsel in New York. “The Fed is determined to fight inflation to the end.”
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