The Dow Jones Industrial Average pared early losses and rose 0.5% at 1:30 p.m. ET Tuesday, hitting session highs as Apple unveiled its hardware updates and launches.
The Dow is trying to reclaim its 50-day moving average.
The S&P 500 also rose, erasing earlier losses and was flat in afternoon trading while the Nasdaq lagged with a 0.4% loss. Both indexes have a tenuous hold on their 50-day moving averages.
Among sectors, energy and financial gained while communication services and technology declined the most.
Volume was higher on the NYSE and Nasdaq compared with the same time Monday.
The small-cap Russell 2000 rose 0.3%.
The Innovator IBD 50 ETF pared some losses and was down 0.2%.
Crude oil rose nearly 2% to $88.95 a barrel.
The yield on the benchmark 10-year Treasury note was unchanged at 4.29%.
Wednesday's inflation report for August looms and is expected to show a 3.6% annual increase after July's 3.2% rise, according to Econoday.
Retail sales, also for August, will follow Thursday along with the Producer Price Index. In July, retail sales surged 0.7% and are expected to cool down to a 0.2% rise in August. The Producer Price Index is expected to show a 0.4% rise after July's 0.3% gain.
House Speaker Kevin McCarthy (R-Calif.) grapples with a possible government shutdown threat as the House returns from recess Tuesday. Deadlines are approaching for reaching an agreement on government funding bills.
Dow Jones Stocks
Apple fell 1%. Shares are below the 50-day line as the September event gets underway with updates to Apple Watch, the Mac computer and the Vision Pro, and the launch of the iPhone 15 and the A17 chip.
Intel rose beyond a buy zone above a buy point of 37.19 in a flat base. Caterpillar rose in a flat base with a buy point of 293.88.
GOOGL Falls As Antitrust Hearing Starts
Google parent Alphabet fell at the hour. A court hearing on the Justice Department's antitrust case against the tech giant regarding internet search started today.
According to the complaint cited in the news release, "Google now controls the digital tool that nearly every major website publisher uses to sell ads on their websites (publisher ad server); it controls the dominant advertiser tool that helps millions of large and small advertisers buy ad inventory (advertiser ad network); and it controls the largest advertising exchange (ad exchange), a technology that runs real-time auctions to match buyers and sellers of online advertising."
Futures Await Inflation Data; EU Probe Hits Tesla Rivals
Stocks Moving Today
Adobe fell more than 2% but remains near an alternative buy point of 552.94 ahead of earnings on Thursday. A prior entry was at 509.14 on support at the 50-day line. Homebuilder Lennar also reports Thursday. The stock remains below the 50-day line.
WestRock pared some gains after breaking out of a flat base with a buy point of 35.63. News about its merger with packaging giant Smurfit Kappa moved the stock. Shares are below the buy point at the hour.
UPS CEO Carol Tome stated late Monday that the new deal with Teamsters would cost less than the $30 billion outlined by the union. Shares plunged further below the 50-day line.
Casey's General Stores gapped up and broke out after earnings. Shares cleared the 50-day line as well. The company expects to add at least 150 stores in fiscal 2024 with comparable sales increasing 3% to 5%.
Cintas rose after Bank of America upgraded the stock to buy from neutral with a price target of $580, up from $523. Shares of the corporate uniforms provider are rebounding from the 50-day line in a flat base with a buy point of 518.71 in the stock market today.
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