Investors will be watching economic data reports in the coming days that could shape the Federal Reserve’s (Fed) interest rate decision.
On Tuesday, US Wall Street showed positive momentum as investors prepared for key inflation data.
The producer price index (PPI) will be released today, followed by the consumer price index (CPI) on Wednesday.
The report will reveal whether inflation is at a high or low level which will then be an indicator for the Fed to determine its next interest rate.
At the same time, investors are also awaiting earnings reports from major companies including JPMorgan Chase, Citigroup, and Goldman Sachs.
On Monday, the stock market was seen mixed with the Dow Jones index rising by 0.86%, while the S&P 500 rose by 0.16%.
However, the Nasdaq fell by 0.38% as investors shifted their money from big tech companies into industries such as energy, healthcare, and materials.
Rising bond yields, especially the 10-year Treasury yield reaching its highest level since November, added pressure to technology stocks.
