Shares that mix as investors digest inflation data, waiting for Fed minutes
US Stocks traded with mixed dinner on Wednesday, when investors digested an important reading of inflation and waited minutes from the Federal Reserve March meeting.
How are benchmarks going?
Dow Jones Industrial Average
-0.05%
fell 22 points, or 0.1% to 26,130, lowered by the continued struggle for component Boeing Co .
BA, -0.95%
S & P 500 Indexes
SPX, + 0.22%
meanwhile, added 6 points, or 0.2% to 2884, and Nasdaq Composite
COMP, + 0.47%
rose 40 points, or 0.5% to 7.949.
What drives the market?
Investors analyze the latest inflation data after the Ministry of Labor has published its reading of the consumer price index, which showed that prices rose the highest for 1[ads1]4 months, even though price inflation was more subdued when they excluded volatile food and energy prices.
Markets will have a deeper look at Fed's surveillance of inflation and growth when the minutes from the March meeting are released at 2 pm
On Tuesday, S & P 500 hit an eight-season win, among fears of increased trade tension with the EU and a weaker global perspective from the International Monetary Fund.
President Donald Trump's administration threatened to impose $ 11 billion tariffs on imports from the EU, increasing the range of increased global trade tensions beyond the continuing tensions in the US and China.
At the same time, the International Monetary Fund downgraded its growth outlook for the global economy in 2019 to 3.3%, from 3.5% in January.
Also in focus was a planned EU summit where the main theme will be Britain's attempt to create a proper exit from Europe's trading block. The EU aims to discuss a potential long extension of U.K.'s Brexit plans.
What shares are in focus?
Ride-sharing company Lift Inc .
LIGHTS, -6.94%
shares are under pressure, down 6.3% as investors focused on Uber Inc.'s IPO. The shares have fallen more than 19% since March 28, the first public offer.
Uber is set to turn off its marketing campaign for a forthcoming budget offering, selling $ 10 billion in stock, according to several reports. The public debut is scheduled to take place as early as May on the New York Stock Exchange, reports reported.
Shares in Boeing fell 1.3% Wednesday after Intelstat S.A .
I, + 0.46%
said it lost the lost communication with its Intelsat 29e satellite, made by Boeing.
Apple Inc.
AAPL, -0.11%
shares traded slightly lower Wednesday morning after HSBC downgraded stocks to reduce from wait.
A cadre of top bank leaders is set to testify to the health of the US banking system following the 2008 financial crisis ahead of the House Financial Services Committee at 9.00 am Eastern Time. Managing Directors of JPMorgan Chase & Co .
JPM, + 0.08% State Street Corp .
STT, -0.20% Bank of America Corp .
BAC, + 0.00% Morgan Stanley MS, + 0.11%
and Goldman Sachs Group Inc .
GS, + 0.74%
will be present.
Stocks of Levi Strauss & Co .
