The New York Stock Exchange is showing a relatively quiet trend, fluctuating in a narrow range ahead of the announcement of the U.S. Consumer Price Index (CPI) for July.
As of 12 p.m. on the 11th (local time), the Dow Jones Industrial Average on the New York Stock Exchange recorded a decline of 109.64 points (0.25%) to 44,203.42. The Standard & Poor's 500 index rose by 6.64 points (0.10%) to 6,396.09, while the Nasdaq Composite Index traded up 60.03 points (0.28%) to 21,510.05.
Among large tech stocks, Tesla is leading the charge with a surge of 4.93%. NVIDIA (0.38%), Microsoft (0.98%), Apple (0.17%), Meta (0.38%), and Broadcom (0.56%) are also on the rise. In contrast, Amazon (-0.34%) and Google's parent company Alphabet (-0.15%) remain in a slight decline.
On this day, with no major economic indicators being released, the market is focused on the July CPI, which will be unveiled on the 12th. This announcement is particularly significant as it is the last price indicator before the Federal Reserve's Jackson Hole Symposium scheduled for August 21-23. If signs of rising prices become clearer, opinions within the market may diverge regarding the potential for a rate cut in the second half of the year.
Wall Street is expecting the CPI increase for July to be larger than in June. Excluding the volatile food and energy sectors, the forecast for the month-over-month core CPI increase in July is 0.3%, and the year-over-year increase is projected at 3%.