By Dhirendra Tripathi
Investing.com -- Stocks let some steam off, hovering below record highs heading into the final half-hour of trading after data on producer prices last month stoked new concerns about inflation.
General Electric Company (NYSE:GE) jumped after announcing a plan to split itself in three, adding an element of surprise to Tuesday’s session.
So far, strong earnings and the ongoing business reopening have lifted indexes to all time peaks. On Monday, the U.S. opened its borders to air travelers from 33 countries, also boosting sentiment on the travel and leisure sectors.
The Labor Department's producer prices data showed rising prices, which has replaced the pandemic as a main source of concern in the markets and could linger for a while. On Wednesday, we get data on consumer prices for October, another key benchmark.
In single stock news, GE rose nearly 4% on the plan to divide itself. Robinhood Markets Inc (NASDAQ:HOOD), the mobile investing app, fell nearly 3% after saying late Monday it was the target of a security breach.
Here are three things that could affect markets tomorrow:
1. Disney earnings
Walt Disney Company (NYSE:DIS)’s fourth-quarter profit per share is seen coming in at 51 cents on revenue of $18.82 billion, according to analysts tracked by Investing.com. Analysts will be eager to hear about the recovery of its theme parks business and progress in its streaming operations.
2, Core consumer prices
Core inflation rate in the U.S., which excludes food and energy prices, is expected to have climbed 4.3% in October from a year ago, a quicker rate than September’s 4% run-up. On a monthly basis, core CPI is seen rising 0.4%, from 0.2% in September.
3. The top line
The CPI is expected to have risen by an annual rate of 5.8% in October, quicker than September’s 5.4% and 0.6% for October versus 0.4% for September. The Bureau of Labor Statistics report will release the numbers Wednesday at 8:30 AM ET (1230 GMT).