Stocks eased back below their record heights Tuesday as investors waited to hear whether the mixed bag of data coming in about the economy will push the Federal Reserve to let up on its massive support for markets.
The S&P 500 edged lower after a report showed inflation on the wholesale level leaped last month by more than economists expected. The worry is that if high inflation proves to be longer lasting than the Fed expects, it may have to halt its bond purchases and raise interest rates.
On Tuesday:
The S&P 500 fell 8.56 points, or 0.2%, to 4,246.59.
The Dow Jones Industrial Average fell 94.42 points, or 0.3%, to 34,299.33.
The Nasdaq fell 101.29 points, or 0.7%, to 14,072.86.
The Russell 2000 index of smaller companies fell 6.07 points, or 0.3%, to 2,320.07.
For the week:
The S&P 500 is down 0.85 points, or less than 0.1%.
The Dow is down 180.27 points, or 0.5%.
The Nasdaq is up 3.43 points, or less than 0.1%.
The Russell 2000 is down 15.74 points, or 0.7%.
For the year:
The S&P 500 is up 490.52 points, or 13.1%.
The Dow is up 3,692.85 points, or 12.1%.
The Nasdaq is up 1,184.58 points, or 9.2%.
The Russell 2000 is up 345.22 points, or 17.5%.
Before you consider ONE, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ONE wasn't on the list.
While ONE currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
