Omega Management logo

U.S. stocks cling to gains on more signs of easing inflation

By Andrew Keshner and Joseph Adinolfi

Fed’s Bostic says more rate hikes needed despite ‘glimmers of hope’ on inflation

U.S. stocks were higher Tuesday afternoon, but off the session’s best levels, after more data suggested inflation may be slowing while mega-retailer Walmart offered a rosier annual forecast.

However, the Dow briefly skidded lower midsession after an Associated Press report said Russian missiles crossed into Poland and killed two people, ratcheting up geopolitical tension given Poland is a NATO country.

How are stocks are trading

On Monday, U.S. stocks finished near session lows after early gains evaporated. The Dow Jones Industrial Average fell 211 points, or 0.6%, while the S&P 500 declined 36 points, or 0.9% and the Nasdaq Composite dropped 226 points, or 2%.

What’s driving markets

U.S. stocks trimmed earlier gains in afternoon trade Tuesday, despite another batch of inflation data…

Read more…