Dow Awaits Key Inflation Report; DIS Earnings Loom; Disney's ESPN Entered Gaming Tuesday
The Dow Jones is unchanged as investors wait for the CPI report on Thursday. Disney is set to report earnings.
Investors are awaiting a critical inflation report due on Thursday.
The S&P 500 was down 0.1% in the last hour.
The Nasdaq was lagging behind, with a 0.5% drop at 10:30 am. ET.
The volume on the NYSE and Nasdaq was higher than Tuesday's same time.
The Russell 2000 small cap index fell 0.6%. Innovator 50 ETF (FFTY), which tracks the Russell 2000, also fell 1% per hour.
Crude oil increased by more than 1%, trading at $83.98 per barrel.
The yield on the benchmark Treasury 10-year note dropped 2 basis points to 4%.
Econoday predicts that inflation will rise by 0.2% after the 0.2% increase in June.
Dow Jones Stocks
Disney (DIS), which will announce its earnings after the bell, has cleared the 50-day line. Since March, the level has been a resistance area for the stock.
Caterpillar (CAT), which has risen, is approaching its new high set last week.
Stocks moving today
Super Micro Computer (SMCI), which had a good quarter, plunged after a lowered outlook. The shares are in danger of losing their 50-day support line due to heavy volume.
Axon's (AXON), after announcing strong Q2 results, has gapped above its 50-day-line on a more optimistic outlook for the entire year.
Array Technologies' (ARRY), which is a rival to Uber (UBER), fell today after the second-quarter results on the stock exchange.
Roblox (RBLX), a popular game, plunged in value after it released its results for the second quarter. Penn Entertainment (PENN), a gaming stock, soared Tuesday after a report that ESPN would partner with Penn Entertainment to create a gambling sportsbook. Disney is an important investor in ESPN. PENN rival DraftKings (DKNG) fell.
Rivian (RIVN), a stock in the EV sector, fell, despite the fact that it raised its production forecasts after Tuesday's earnings for the second quarter.
Twilio's (TWLO), which has a positive quarter and increased guidance, is on the rise. The top ARK Invest hold is a software-based enterprise play that is trying to retake the 50-day line.
Akamai Technologies' (AKAM), which has been rated investment grade by credit rating agencies, saw its stock price jump after the second quarter results.
Chegg (CHGG), outside the Dow Jones index, reversed its trend and fell following a price increase from BMO Capital from 10 to 12. After earnings, shares rose above the 50-day line.
Jefferies upgraded Eli Lilly's (LLY) shares to a buy rating from a hold, with a new price target of $615. This was up from $430.