Wall Street today: US stocks mixed ahead of Harris-Trump debate, inflation data

US stocks were mixed on Tuesday ahead of key inflation data later this week.

The latest data could provide clues on the size of the expected interest rate cut by the Federal Reserve on September 18.

As of 9:40 a.m. Eastern time, the Dow Jones Industrial Average was down less than 0.1 per cent, the S&P 500 was 0.3 per cent higher, and the Nasdaq Composite was up 0.2 per cent.

At the opening bell, the Dow Jones Industrial Average rose 86.9 points, or 0.21 per cent, to 40916.5. The S&P 500 rose 19.5 points, or 0.36 per cent, to 5490.51, while the Nasdaq Composite rose 65.0 points, or 0.39 per cent, to 16949.641.

Ahead of the inflation data, investors will also closely watch debate between Vice President Kamala Harris and former president Donald Trump on Tuesday.

Oracle shares rallied 12.1 per cent after the company reported better profit and revenue for the second quarter.

Apple stock declined 1.7 per cent after the European Union’s top court rejected the iphone maker’s final legal challenge against an order to repay 13 billion euros — more than $14 billion — in back taxes to Ireland.

Shares of Google’s parent Alphabet rose 1 per cent.

In the bond market, the yield on the 10-year Treasury edged down to 3.69 per cent from 3.70 per cent late on Monday.

Crude oil

Oil prices slumped on Tuesday, spurred by robust supplies.

Brent futures dropped below $70 a barrel for the first time since December 2021. The global benchmark shed 2.8 per cent.

Bullion

Gold prices held firm above the $2,500 level on Tuesday as market participants awaited US inflation data.

Spot gold rose 0.3 per cent to $2,513.07 per ounce by 9:10 am ET (1310 GMT). US gold futures were up 0.4 per cent at $2,542.10.

Spot silver rose 0.3 per cent to $28.43 per ounce.