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| S&P 500 Nasdaq steady as investors digest JPMorgan and Delta earnings |
S&P 500 Nasdaq steady in early Tuesday trading as investors reacted to mixed corporate earnings and a largely in-line U.S. inflation report that reinforced expectations for interest rate cuts later this year. Market sentiment remained cautious despite fresh record levels across major indexes.
U.S. consumer prices rose moderately in December, with core inflation increasing 0.2% month-on-month, below economists’ expectations. On a yearly basis, both headline and core CPI rose 2.6%, supporting market bets for at least two Federal Reserve rate cuts in the second half of 2026.
JPMorgan Chase reported fourth-quarter profits above analyst estimates, marking a strong start to the earnings season. However, its shares declined after the bank warned that a proposed cap on credit card interest rates could negatively impact consumers and economic activity.
Delta Air Lines weighed on the broader market after issuing a 2026 profit forecast that fell short of expectations. The airline’s shares dropped, dragging other carriers lower as investors reassessed outlooks for the travel sector.
At mid-morning, the Dow Jones Industrial Average traded lower, while the S&P 500 hovered near the 7,000 level and the Nasdaq edged higher. Small-cap stocks continued to attract attention, with the Russell 2000 extending its early-year rally.
Energy stocks advanced as oil prices climbed on renewed geopolitical concerns in the Middle East. Defense shares also gained after news of fresh U.S. government investment in missile and rocket motor production.
Overall, S&P 500 Nasdaq steady performance reflected a market balancing easing inflation pressures, selective earnings strength, and elevated valuations as investors await further economic data and corporate results.
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