S&P 500 Opens Flat As Wall Street Struggles to Recover From Monday’S Sell-off

Tiger Newspress2022-11-29

The S&P 500 hovered around the flatline Tuesday as traders struggled to recover from sharp losses suffered in the previous session.

The broad index’ sat near flat, while Nasdaq Composite climbed 0.1%. The Dow Jones Industrial Average lost 60 points, or 0.2%.

All three of the major U.S. indexes ended the day down more than 1% and West Texas Intermediate crude futures briefly fell to their lowest point since last December

On the economic front, traders will watch for the September reading of the S&P CoreLogic Case-Shiller Home Price Index that is due Tuesday before the bell. The report will give investors insight into how higher interest rates are affecting the housing market. Home prices in the prior month jumped about 13% year over year.

Meanwhile, the latest reading on consumer confidence is set to release at 10 a.m. Wall Street is also expecting the latest corporate earnings results from Hewlett Packard Enterprise Tuesday after the bell.

Fed Chair Jerome Powell is scheduled to speak at the Hutchins Center on Fiscal and Monetary Policy at Brookings on Wednesday. Investors will be listening for insight into the central bank’s fight against inflation.

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