#stocks #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed #YahooFinance #investing #stockmarket #crypto

To get the latest market news check out finance.yahoo.com

Stocks were split on Tuesday afternoon as tech rally lost steam after a Samsung profit warning took the shine off the sector.

The Dow Jones Industrial Average (^DJI) slipped 0.4% or about 150 points. The benchmark S&P 500 (^GSPC) fell by 0.1%, while the tech-heavy Nasdaq Composite (^IXIC) turned barely positive, reversing a pull into the negative from the morning session.

Samsung’s update weighed on hopes for a rebound in the PC and mobile sector, a key market for its memory chips. The Korean company said it expects a 35% drop in fourth-quarter operating income, far short of estimates, as demand continues to lag.

Big Tech helped carry stocks higher on Monday, as the Dow shook off a plunge in Boeing (BA) shares after a malfunction on a 737 Max 9 jet. Shares in the carrier fell slightly Tuesday even as Alaska (ALK) and United Airlines (UAL) said they had found loose parts in an inspection check.

The key focus for investors remains the December consumer inflation reading due Thursday and what it could mean for the chances of easing interest rates. But two Federal Reserve officials on Monday poured cold water on Wall Street’s already fading expectations that a cut could come in the next few months.

The idea that inflation is cooling underpins investors’ belief that the US economy will skirt recession. That conviction faces a crucial test on Friday, when big banks kick off the fourth-quarter earnings season.

Meanwhile, oil prices (CL=F) (BZ=F) rose over 2%, recouping some of Monday’s near 4% fall as investors weighed the impact of tensions in the Middle East and Saudi Arabia’s decision to cut crude prices.

For more on this article, please visit:
https://finance.yahoo.com/news/stock-market-news-today-stocks-mixed-as-wall-street-pares-losses-143406764.html

source