Market Commentary - Foreign Markets
US Stocks waver near record ahead of inflation data, Fed meet As on : 12-Jun-24  09:06

US stock market finished choppy session in mixed territory on Tuesday, 11 June 2024, with the Nasdaq and the S&P500 indexes settling at record closing highs for a second straight day, while the Dow finished in negative territory on caution ahead of the Labor Department report on consumer price inflation for May and the Federal Reserve's monetary policy meeting due on Wednesday.

At closing bell, the Dow Jones Industrial Average index declined 120.62 points, or 0.31%, to 38,747.42. The S&P500 index added 14.53 points, or 0.27%, to 5,375.32, new record closing highs. The tech-heavy Nasdaq Composite index increased by 151.02 points, or 0.88%, to 17,343.55, new record closing highs.

Total 8 of 11 S&P500 sectors ended higher along with gain in the S&P500 Index. Utilities sector was top performers, rising 1.27%. Financial sector was bottom performer, falling 0.39%.

Shares of Apple surged by 7.3% to a record after unveiling new AI features that may drive users to upgrade their devices.

Crude oil prices were steady on Tuesday as investors waited for US and China inflation data. Brent crude futures gained 4 cents, or 0.1%, to $81.67 a barrel. The US West Texas Intermediate (WTI) crude futures lost 5 cents, or 0.1%, to $77.69.

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