LIVE MARKETS-U.S. stocks tread water ahead of Thursday data deluge

Dow Jones Industrial Average +0.17%
NASDAQ +0.22%
S&P 500 index +0.25%
VanEck Vectors Indonesia Index ETF -1.31%
PHLX Semiconductor -0.31%

VanEck Vectors Indonesia Index ETF

IDX

16.58

-1.31%

Dow Jones Industrial Average

DJI

39872.99

+0.17%

NASDAQ

IXIC

16832.62

+0.22%

S&P 500 index

SPX

5321.41

+0.25%

PHLX Semiconductor

SOX

5074.40

-0.31%

DJI ends up 0.04%, S&P 500 off ~0.1%, Nasdaq off ~0.15%

Real estate leads S&P 500 sector gainers; comm svcs weakest

Dollar, gold up slightly; crude rallies >1.5%; bitcoin dips

U.S. 10-Year Treasury yield falls to ~4.27%

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U.S. STOCKS TREAD WATER AHEAD OF THURSDAY DATA DELUGE

After a strong start on Wednesday, Wall Street's three main indexes petered out and ended mixed near unchanged as investors decided to rein in risk ahead of a data flood on Thursday.

Indeed, at 0830 ET on Thursday markets will contend with the release of jobless claims, as well as personal income and spending data including October PCE price indexes. Additionally, November Chicago PMI and October pending homes sales reports will come at 0945 ET and 1000 ET.

The core PCE price indexes on a month-over-month and year-over-year basis are expected at 0.2% and 3.5% vs readings of 0.3% and 3.7% last month.

Given the data, and its potential impact on the Fed, it was perhaps no surprise that as the indexes neared their summer highs, traders decided discretion was the better part of valor.

The Nasdaq Composite .IXIC came within 0.16% of its mid-July intraday high, while the S&P 500 .SPX came within 0.42% of its late-July intraday high before both pared gains. The DJI .DJI stalled 0.28% shy of its early August intraday peak.

That said, under the surface, there were pockets of strength including chips .SOX and banks .KRX, .SPXBK.

Here is a snapshot of where markets stood just moments after 1600 EST:



(Terence Gabriel)

*****


WEDNESDAY'S LIVE MARKETS POSTS SINCE 0900 EST/1400 GMT:


J.P. MORGAN SEES S&P 500 DOWN FROM CURRENT LEVELS IN 2024 - CLICK HERE


GOLD PROSPECTS NEAR RECORD HIGHS - CLICK HERE


BIG RETURNS BECKON OUTSIDE THE MAGNIFICENT SEVEN -RBA - CLICK HERE


EVERY SILVER LINING HAS A CLOUD: GDP ET AL - CLICK HERE


CORD CUTTERS TO ECLIPSE PAY TV VIEWERS BY THE END OF 2023 - CLICK HERE


WALL STREET JUMPS AFTER "LOOSE FED LIPS SINK YIELDS" - CLICK HERE


S&P 500 INDEX POISED TO FOLLOW FUTURES' PREMARKET FLOURISH - CLICK HERE


FOR WEDNESDAY'S LIVE MARKETS POSTS PRIOR TO 0900 EST/1400 GMT - CLICK HERE




(Terence Gabriel is a Reuters market analyst. The views expressed are his own)

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