US stocks close mixed before inflation figures, Fed meeting

By Ovunc Kutlu

ISTANBUL (AA) - US stock exchanges closed Tuesday on a mixed note as investors await the consumer inflation figures and the Federal Reserve's monetary policy meeting to conclude.

The Dow Jones was down 120 points, or 0.31%, to finish the day at 38,747.

The S&P 500, on the other hand, rose 14 points, or 0.27%, to 5,375. The Nasdaq, meanwhile, added 151 points, or 0.81%, to end the session at 17,343.

Apple shares climbed to an all-time high to close the session at $207.16 with a 7.26% gain, a day after the tech company announced Apple Intelligence generative models and unveiled a partnership with OpenAI.

The Fed is widely expected to keep its federal funds rate unchanged between the 5.25% - 5.5% target range Wednesday, but investors will focus on chair Jerome Powell's comments in the post-meeting news conference.

Before Wednesday's market opening, consumer inflation data will be announced, which the Fed officials closely keep an eye on.

The VIX volatility index, also known as the fear index, rose 1.1% to 12.88. The 10-year US Treasury yield lost 1.66% to 4.397%.

The dollar index increased 0.1% to 105.26, while the euro shed 0.21% to $1.0741 against the greenback.

Precious metals were mixed, with gold adding 0.2% to $2,316 but silver decreasing 1.7% to $29.24.

Oil prices were up around 0.15%, with global benchmark Brent crude at $81.78 and US benchmark West Texas Intermediate at $77.86.