The United States (US) stock market saw a slight decline as investors prepared for the release of a new inflation report that will influence monetary policy decisions by the Federal Reserve (Fed).
On Tuesday, the market closed with the main Dow Jones index down 0.86%, the S&P 500 down 0.29%, and the Nasdaq losing 0.09%.
Following the strong performance in the recent elections, the market is seen to be unable to continue the upward momentum, with most sectors facing losses.
Materials, healthcare and real estate were among the worst-performing sectors, while communications services, technology and the consumer base saw gains.
The October Consumer Price Index (CPI) to be published in the New York session tonight could influence whether interest rate cuts will be made by the Fed or otherwise due to expectations that the figures may rise again.
Investors are also looking forward to the Producer Price Index (PPI) and US retail sales figures to be released on Thursday and Friday, respectively.
Spotify jumped 6.6% after a strong earnings report, while Cava rose 16.5%.
However, Skyworks Solutions fell 3.3% due to lower-than-expected financial projections for the next quarter.
