The US markets ended mostly lower on Tuesday. A lack of major U.S. economic data kept some traders on the sidelines ahead of the release of several key reports in the coming days. The Labor Department's report on consumer price inflation in the month of March is due to be released on Wednesday and could have a significant impact on the outlook for interest rates. Street currently expect consumer prices to rise by 0.3 percent in March, while the annual rate of growth is expected to slow to 5.2 percent from 6.0 percent. Core consumer prices, which exclude food and energy prices, are expected to climb by 0.4 percent in March, although the year-over-year growth is expected to accelerate to 5.6 percent from 5.5 percent.
Meanwhile, Reports on produce price inflation, retail sales and industrial production are also likely to attract attention in the coming days. Earnings news may also drive trading later in the week, with financial giants Citigroup (C), JPMorgan Chase (JPM) and Wells Fargo (WFC) due to report their quarterly results on Friday. On the sectoral front, despite the lackluster performance by the broader markets, airline stocks moved sharply higher on the day, driving the NYSE Arca Airline Index up by 3.4 percent. Optimism about additional stimulus from China also contributed to substantial strength among steel stocks, as reflected by the 3.1 percent surge by the NYSE Arca Steel Index.
Nasdaq declined 52.48 points or 0.43 percent to 12,031.88 and S&P 500 was down by 0.17 points to 4,108.94, while Dow Jones Industrial Average gained 98.27 points or 0.29 percent to 33,684.79.
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