Market close: Investors await inflation data, Dow falls again
By Joseph Toppe
20:31, 12 October 2021
The major US benchmarks fell across the board in trading on Tuesday as the market readies for the release of federal reorts tomorrow.
The Dow Jones Industrial Average lost around 118 points, or 0.3% from 34,507.15, the S&P 500 dropped down 0.2% from 4,368.31, while the Nasdaq Composite traded 0.1% lower from 14,539.09.
Labour report and minutes release
The US Department of Labor will release data on the consumer price index for September on Wednesday morning.
Also on Wednesday, the Federal Open Market Committee will release its minutes from the September meeting, cueing in traders on the Federal Reserve’s tapering strategy.
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Tuesday winners and losers
Following the airline’s over 2,000 flight cancellations over the weekend, shares for Southwest Airlines flew 1.3% higher.
Shares for General Motors are trading 1.6% higher as shares for CureVac sank 2% following the company’s decision to shelve its most advanced Covid-19 vaccine.
Tesla’s sales in China boomed in September as the US electric vehicle maker sold a record 56,006 China-made vehicles.
In the tech sector, shares for Facebook dipped 0.5%, shares for Alphabet dropped 1.8%, and shares for Apple lost 0.9%.
In assets, the yield on the benchmark 10-Year US Treasury note was little changed at 1.579%, its largest one-day fall in over a week.
Global markets
The pan-continental Stoxx Europe 600 index dropped less 0.1%, while in Asia, the Nikkei 225 lost 0.9%, and the Hang Seng Index fell 1.4%.
In mainland China, the Shanghai Composite Index fell 1.2%. Canada’s TSX closed the day at up 0.10%.
Read more: Labour shortages continue to increase for small businesses
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