Wall Street today: US stocks mixed ahead of Nvidia results, PCE inflation data

US stocks were mixed on Tuesday ahead of highly anticipated results from Nvidia and key inflation data later in the week.

At 11:33 a.m. ET, the Dow Jones Industrial Average was down 81.17 points, or 0.20 per cent, at 41,159.35, the S&P 500 was down 1.91 points, or 0.03 per cent, at 5,614.93, and the Nasdaq Composite was down 5.56 points, or 0.03 per cent, at 17,720.21.

As of 10:34 am Eastern, the S&P 500 rose 0.1 per cent. The Dow Jones Industrial Average shed 0.1 per cent and the Nasdaq added 0.1 per cent.

At the opening bell, the Dow Jones Industrial Average fell 54.24 points, or 0.13 per cent, to 41,186.28. The S&P 500 edged lower by 13.95 points, or 0.25 per cent, at 5,602.89, while the Nasdaq Composite dropped 70.24 points, or 0.40 per cent, to 17,655.52.

Investors are focusd on the key inflation report this week. The US government on Friday will release its July data on PCE (personal consumption and expenditures), the preferred measure of inflation for the Federal Reserve.

Chipmaker Nvidia, slated to report its latest financial results on Wednesday, rose 1.1 per cent.

Shares of Broadcom fell 0.8 per cent and Micron lost 1.3 per cent.

Tesla stock extended losses and fell 2 per cent after Canada said it will impose a 100 per cent tariff on the import of Chinese EVs.

Paramount Global stock slid 5.8 per cent after media veteran Edgar Bronfman Jr. withdrew from the race for the company to take control of Shari Redstone's media empire.

In the bond market, the yield on the 10-year Treasury rose to 3.86 per cent from 3.82 per cent late on Monday.

Bullion

Gold prices fell on Tuesday, weighed down by higher US bond yields.

Spot gold fell 0.2 per cent to $2,512.63 per ounce, as of 9:53 am ET (1353 GMT). US gold futures eased 0.3 per cent to $2,547.90.

Spot silver fell 0.1 per cent to $29.88 per ounce.

Crude oil

Oil prices dropped on Tuesday after rebounding more than 7% over the previous three sessions on supply worries.

Brent crude futures were down 47 cents, or 0.58 per cent at $80.96 a barrel by 1311 GMT. US West Texas Intermediate crude futures dropped 54 cents, or 0.7 per cent, to $76.88.