From Nasdaq: 2024-11-12 18:05:51

Stock indexes closed lower on Tuesday, with the S&P 500 down -0.29%, Dow Jones down -0.86%, and Nasdaq 100 down -0.17%. Consolidating recent highs, stocks faced profit-taking and long liquidation ahead of the US consumer price report.

Positive Fed comments boosted stocks, with expectations of a rate cut in December. Markets await the Oct CPI and retail sales reports. Q3 earnings have been positive, with 75% beating estimates.

Overseas markets also closed lower, with Euro Stoxx 50 down -2.25% and Chinese and Japanese markets lower. US interest rates rose, with T-notes pressured by European bonds and inflation concerns.

Eurozone is expecting an ECB rate cut in December, with swaps pricing in a 100% chance of a -25 bp cut. US stock movers include Mosaic and GE Vernova down, while Tyson Foods and Honeywell International led gainers.

Various companies experienced stock movements, with drops for Elevance Health and Neurogene, and gains for Tyson Foods and Honeywell International. Earnings reports are expected from Cisco Systems, Loar Holdings, NU Holdings, and Tetra Tech on 11/13/2024.



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