US stock indices slipped on Tuesday on fading hopes for early interest rate cut.
Last week, the inflation data hurt investors’ hopes that the US Federal Reserve could begin cutting interest rates in March.
At 9:40 a.m. ET, the Dow Jones Industrial Average was down 31.08 points, or 0.08 per cent, at 38,596.91, the S&P 500 was down 26.74 points, or 0.53 per cent, at 4,978.83, and the Nasdaq Composite was down 143.75 points, or 0.91 per cent, at 15,631.91.
At the opening bell, the Dow Jones Industrial Average fell 51.73 points, or 0.13 per cent, to 38,576.26. The S&P 500 opened lower by 16.25 points, or 0.32 per cent, at 4,989.32, while the Nasdaq Composite dropped 95.81 points, or 0.61 per cent, to 15,679.84.
Shares of Walmart gained 5.4 per cent after reporting stronger-than-expected quarterly results.
Retailer Home Depot fell 1.2 per cent after disappointing profit forecast for the year.
