Investing.com – U.S. stocks hovered around the flat line on Tuesday, as the technology wobble weighed on the broader market, a day before key inflation data.
At 12:55 ET (17:55 GMT), the index fell 20 points, or 0.1%, while the index was essentially flat and gained 0.2%.
Oracle puts pressure on the technology sector, but Alphabet shines
Oracle (NYSE fell more than 8%, putting pressure on the broader technology sector after the cloud company's fiscal second-quarter earnings missed lofty street estimates amid increased competition in the sector.
Alphabet Inc Class A (NASDAQ was a bright spot in technology, rising 4% after the launch of its Willow quantum chip.
CPI data awaited for further signals on rates
The focus this week is on US inflation data, due out on Wednesday, which could influence the Federal Reserve at its policy meeting later this month.
It is expected to rise slightly to 2.7% from 2.6% year-on-year, while , which excludes volatile food and energy products, is expected to remain at 3.3%.
While inflation had fallen steadily in early 2024, it became stiffer in recent months amid the resilience of the US economy, leading to some uncertainty about the outlook for interest rates.
Markets are still awaiting a decision from the Federal Reserve next week. But the long-term outlook for rates has now become more uncertain, with expectations of inflationary policies under incoming President Donald Trump adding to the mix.
Eli Lilly (NYSE ) shares were steady after the drugmaker announced a new $15 billion share buyback and increased its dividend.
Alaska Air (NYSE:) shares rose 13% after the airline raised its fourth-quarter profit forecast, due to strong travel demand and improving prices. The airline also provided full-year 2025 earnings guidance that topped Wall Street estimates.
(Peter Nurse and Ambar Warrick contributed to this article.)
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