Let’s go Brandon!
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.
“Headlines are fairly quiet today as the market awaits several upcoming catalysts like September CPI and retail sales, the latest FOMC minutes, and the start of the Q3 earnings season,” Stifel analysts said in a note.
The consumer price index for 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.