S&P 500 and Nasdaq Composite drift higher early Tuesday but Dow under pressure

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U.S. stock indexes opened mixed Tuesday, with the S&P 500 and Nasdaq Composite aiming to extend lengthy winning streaks, while the Dow dipped at the start of trade. The Dow Jones Industrial Average was down 0.2% at 36,368, while the S&P 500 index advanced 0.1% at 4,704, and the Nasdaq Composite Index rose 0.2% at 16,019. On Monday, the S&P 500 scored its the eighth straight gain, its longest winning streak since April 2019 and its longest string of record closes since 1997. The Nasdaq Composite produced, on Monday, notched its 11th straight gain, which marked its longest stretch of advances since December of 2019. Trading for equity markets on Tuesday come after a report on wholesale inflation, the October producer price index, rose 0.6%, in line with expectations. The pace of wholesale inflation over the past 12 months was flat at 8.6%, but marking the highest level since the index was reconfigured in 2009, and likely one of the highest readings since the early 1980s. In corporate action, shares of General Electric Co. (GE) were up after the industrial conglomerate announced plans to split into three publicly traded companies.

-Mark Decambre

 

(END) Dow Jones Newswires

11-09-21 0939ET

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