Wall Street closes mostly lower on inflation, earnings

Tuesday, 13. July 2021 22:00

Shares on Wall Street finished trading on Tuesday mostly lower as investors reacted to June's inflation report and more corporate earnings.

According to the Bureau of Labor Statistics, the US consumer price index increased 5.4% in June compared to the previous year to reach a nearly 13-year-high. However, Federal Reserve officials continued to share their beliefs that rising inflation will only be temporary. Meanwhile, JPMorgan and Pepsico reported their respective quarterly earnings, with more company results due later in the week.

The Dow Jones closed 0.31% in the red as Boeing dropped over 4%. The S&P 500 finished the session 0.35% lower after hitting a record high earlier in the day; packaged foods company Conagra Brands plunged over 5% after lowering its annual profit forecast. The Nasdaq 100 was flat at the closing bell.

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Author:
Breaking the News / JC