Nasdaq Falls 0.6% as Traders Await July CPI and Weigh 49.9% September Rate-Hike Odds
Updated
Updated · Kiplinger's Personal Finance · Aug 11
Nasdaq Falls 0.6% as Traders Await July CPI and Weigh 49.9% September Rate-Hike Odds
3 articles · Updated · Kiplinger's Personal Finance · Aug 11
Summary
U.S. stocks drifted lower Tuesday, with the Nasdaq down 0.6%, the S&P 500 off 0.3% and the Dow lower 0.3%, as investors held back before Wednesday’s July CPI report.
49.9% odds of a September 25-basis-point Fed hike, according to CME FedWatch, kept inflation data at the center of trading after a cooler-than-expected July jobs report.
Oil and yields moved only modestly—WTI crude rose 1.6% to $83.45 a barrel while the 10-year Treasury yield edged down to 4.692%—easing some pressure after the prior session’s Hormuz-driven energy surge.
88% of S&P 500 companies have reported, and 86% beat earnings estimates, with aggregate profit growth at 50.4%, helping mute July’s volatility even as Middle East risks and inflation uncertainty linger.
AI earnings remain a near-term focus, with CoreWeave and Super Micro due after Tuesday’s close and Nvidia’s results later this month expected to cap a reporting season dominated by hyperscaler spending.