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US Equities Markets End Mixed Tuesday as Investors Await Consumer Inflation Report
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US Equities Markets End Mixed Tuesday as Investors Await Consumer Inflation Report
Sep 11, 2024 4:56 AM

04:02 PM EDT, 09/10/2024 (MT Newswires) -- US benchmark equity indexes ended mixed Tuesday as markets awaited official consumer inflation data for August due Wednesday.

* Government data are likely to show Wednesday that US consumer inflation rose 0.2% sequentially and 2.6% annually last month, according to a Bloomberg-compiled consensus. The official producer prices report for August is scheduled to be released Thursday.

* The National Federation of Independent Business' monthly sentiment index fell to 91.2 in August from 93.7 in July and 91.3 a year ago, with declines in eight of the 10 components, particularly sales, earnings and economic improvement. Inflation remains the key concern among small businesses, pushing down expectations for future sales and business conditions.

* October West Texas Intermediate crude oil closed down $2.96 to settle at $65.75 per barrel, while November Brent crude, the global benchmark, was last seen down $2.85 at $68.99 as the market again focused on demand concerns as China's economy weakens, while two forecasting agencies cut their 2024 demand forecasts, even as Tropical Storm Francine forces the closure of some Gulf of Mexico platforms, cutting into supply.

* Oracle (ORCL) shares jumped nearly 12% as the software maker posted fiscal Q1 results that surpassed Wall Street's estimates, driven by strength in its cloud offerings.

* Hewlett Packard Enterprise ( HPE ) fell 8.5% as the company launched a public offering of $1.35 billion of its series C mandatory convertible preferred shares.

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