UNH - Wall Street finishes mixed ahead of CPI data; Dow rises as Nasdaq S&P 500 dip

2023-04-11 16:08:40 ET

The major U.S. equity averages finished mixed again on Tuesday, as investors looked ahead to key inflation data due out the following day. The Nasdaq ended lower for the fifth time in the last six sessions and the S&P 500 finished just below the unchanged mark, ending a two-day winning streak.

Still, even with the overall lack of conviction, the Dow recorded its fourth winning session in a row. The blue-chip average was boosted by strength in the likes of Caterpillar ( CAT ), 3M ( MMM ), UnitedHealth ( UNH ), Nike ( NKE ) and Goldman Sachs ( GS ).

The Nasdaq Composite ( COMP.IND ) closed -0.4% , the S&P 500 ( SP500 ) finished with a fractional loss, and the Dow ( DJI ) ended +0.3% .

Wednesday will see the release of a closely watched consumer price report. Economists are looking for a 0.3% rise in March compared to the previous month. On an annual basis, an increase of 5.2% is predicted.

The inflation statistics will provide a key data set for Wall Street, as investors weigh the likelihood of another Federal Reserve rate hike when the central bank meets next month.

"The inflation reading will likely be between the expected 5.2% increase from last year and last month's 6% rise," market expert Andrew Hecht told Seeking Alpha. "The data could determine if the Fed continues to push the Fed Funds Rate higher at the next FOMC meeting."

Looking at bond trading, Treasury yields pushed higher. The 10-year yield ( US10Y ) rose 2 basis points to 3.43%, while the 2-year yield ( US2Y ) edged up 3 basis points to 4.03%.

Among other active stocks, CarMax ( KMX ) surged more than 9% after the car dealer reported a better-than-expected earnings figure .

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