Investors Brace For Inflation Data As US Stocks Open Mixed

In the early hours of Tuesday morning, Wall Street stocks recorded a mixed performance as markets aligned themselves for March inflation data due later in the week, as key figures could influence the interest rate decision of the Federal Reserve later in the month.

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Shortly after trading opened, the Dow Jones Industrial Average rose 0.1 percent to 33,612.26, while the broad-based S&P 500 was nearly unchanged at 4,109.70, also a minor rise from Wednesday's close.

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There was a 0.2 percent drop in the Nasdaq Composite Index, a volatile index that is heavily influenced by technology.

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IMF's estimates for the world economy this year were slightly lowered on Tuesday, with the organization expecting growth of 2.8 percent, slightly lower than expected in its previous forecast.

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It added, however, that economic and geopolitical concerns should not prevent most countries from avoiding a recession.

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A note from Patrick O'Hare of Briefing.com on Tuesday highlighted the fact that the stock market does not have enough to brag about as a broad market driver.

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As he pointed out, there appear to be a lot of drivers like that waiting in the wings.

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Market participants are likely to adopt a wait-and-see stance in the lead-up to Wednesday's consumer inflation report and the earnings reports from several major banks on Friday, said O'Hare, noting that market participants will also be taking a wait-and-see approach to Wednesday's consumer inflation report.

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After an employment report that was considered solid by the markets on Monday, US stocks jumped off their early weakness, leading investors to speculate that an increase in Federal Reserve interest rates could be on the way.

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Due to the fact that the stock market in New York was closed on Friday, traders had the first opportunity to assess the labor market data on Monday.

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As well as European bourses being closed on Monday, there was also a holiday in the United States, which dampened trading volume.

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