Dow falls for third straight day as investors await inflation data, bank earnings
The three major U.S. stock indexes closed lower for a third consecutive session Tuesday ahead of a key inflation reading and a kick-off to third-quarter earnings season.
The Dow Jones Industrial Average shed 117.72 points, or 0.3%, to 34,378.34. The S&P 500 ticked down 0.2% to 4,350.65. The Nasdaq Composite closed 0.1% lower at 14,465.92.
The averages traded near the flatline for much of Tuesday’s session before selling picked up into the close.
Markets were “mostly in wait-and-see mode” ahead of report releases this week, Bank of America said.
September is slated to be announced Wednesday morning. Economists expect prices for an array of consumer goods to jump 0.3% in September from the month prior and 5.3% year over year, according to Dow Jones.
The Federal Open Market Committee on Wednesday is also set to release its minutes from the September meeting. Investors will be digesting the minutes for any potential clues regarding the central bank’s plans to pull back easy monetary policy.
Reference: CNBC
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