U.S. stocks were trading cautiously early Tuesday morning as investors await the release of July consumer price index reports.
Stocks wavered Monday as investors reviewed a series of earnings reports for insight into the impact of higher inflation on companies and consumers.
The S&P 500 fell 5.13 points, or 0.1%, to 4140.06. The Nasdaq Composite retreated 13.10 points, or 0.1%, to 12644.46 after spending much of the afternoon hovering between gains and losses. The technology-heavy index earlier flirted with a potential exit of its bear market. The Dow Jones Industrial Average added 29.07 points, or 0.1%, to 32832.54 points.
Shares of tech giant Nvidia fell $11.96, or 6.3%, to $177.93 after reporting preliminary quarterly revenue below analysts’ forecasts. The company said it expects challenging market conditions to persist in the third quarter.
Shares of Palantir Technologies lost $1.63, or 14%, to $9.82 after it issued guidance that missed Wall