US close: Stocks mixed as inflation beats forecasts

Wall Street stocks were mixed by the end of trading on Tuesday, after the all-important consumer price index registered a larger than expected increase in January.

At the close, the Dow Jones Industrial Average was down 0.46% at 34,089.27 and the S&P 500 lost 0.03% to 4,136.13, while the Nasdaq Composite managed gains of 0.57% to 11,960.15

The Dow closed 156.66 points lower on Tuesday, reversing the gains it recorded in the previous session as stocks recovered some of last week's losses.

Tuesday's primary focus was January's CPI reading, which revealed the cost of living in the US increased by more than expected at the start of 2023.

According to the Department of Labor, the country's consumer price index, the Federal Reserve's preferred inflation gauge, rose by 0.5% month-on-month - a tenth of a percentage point more than anticipated by economists.

At the core level meanwhile, CPI increased 0.4% on the month, ahead of consensus estimates for a jump of 0.3%.

Elsewhere on the macro front, the National Federation of Independent Business' small business optimism index rose to 90.3 in January, up from a six-month low of 89.9 in December, as the percentage of owners expecting to see business conditions improve over the next six months improved six points to -45%.

However, 26% of business owners still singled out inflation as their single most pressing concern.

In the corporate space, Coca-Cola was down 1.67% despite beating guidance with its fourth-quarter results as strong demand and price hikes helped it through the Christmas trading period.

Hotel operator Marriott International was up 3.96%, meanwhile, after it posted an increased quarterly profit performance as strong demand buoyed the firm over the holidays.

Reporting by Josh White for Sharecast.com. Additional reporting by Iain Gilbert.

Dow Jones - Risers

Boeing Co. (BA) $218.45 1.30%
Nike Inc. (NKE) $126.20 0.84%
Chevron Corp. (CVX) $172.32 0.77%
JP Morgan Chase & Co. (JPM) $143.20 0.44%
Intel Corp. (INTC) $28.64 0.32%
Microsoft Corp. (MSFT) $272.17 0.31%
Visa Inc. (V) $229.39 0.22%
McDonald's Corp. (MCD) $266.61 0.15%
Verizon Communications Inc. (VZ) $40.33 0.02%
Dowdupont Inc. (DWDP) $0.00 0.00%

Dow Jones - Fallers

Travelers Company Inc. (TRV) $184.13 -1.85%
Coca-Cola Co. (KO) $59.59 -1.67%
Home Depot Inc. (HD) $318.30 -1.58%
Caterpillar Inc. (CAT) $244.36 -1.53%
Amgen Inc. (AMGN) $241.03 -1.08%
International Business Machines Corporation (CDI) (IBM) $136.01 -0.98%
Walgreens Boots Alliance, Inc. (WBA) $36.75 -0.97%
Dow Chemical Co. (DOW) $59.76 -0.93%
3M Co. (MMM) $114.21 -0.93%
Merck & Co. Inc. (MRK) $108.74 -0.74%

S&P 500 - Risers

Ipg Photonics Corp. (IPGP) $125.55 11.56%
Cadence Design Systems Inc. (CDNS) $199.09 7.21%
Ecolab Inc. (ECL) $158.40 7.11%
Nvidia Corp. (NVDA) $229.71 5.43%
Zoetis Inc (ZTS) $171.90 5.37%
Arista Networks Inc. (ANET) $141.43 4.01%
Marriott International - Class A (MAR) $181.27 3.96%
Synopsys Inc. (SNPS) $375.94 3.92%
Advanced Micro Devices Inc. (AMD) $85.95 3.39%
Micron Technology Inc. (MU) $62.07 3.24%

S&P 500 - Fallers

Weyerhaeuser Co. (WY) $32.77 -4.18%
Marsh & McLennan Companies Inc. (MMC) $167.00 -4.02%
Gallagher Arthur J (AJG) $188.25 -3.57%
CenturyLink Inc. (LUMN) $3.93 -3.20%
Kroger Co. (KR) $43.63 -2.81%
Aon plc (AON) $312.44 -2.80%
Paypal Holdings Inc (PYPL) $77.26 -2.76%
Newmont Corporation (NEM) $47.01 -2.67%
Gartner Inc. (IT) $342.21 -2.63%
AFLAC Inc. (AFL) $69.21 -2.53%

Nasdaq 100 - Risers

Tesla Inc (TSLA) $209.25 7.51%
Cadence Design Systems Inc. (CDNS) $199.09 7.21%
Nvidia Corp. (NVDA) $229.71 5.43%
Marriott International - Class A (MAR) $181.27 3.96%
Synopsys Inc. (SNPS) $375.94 3.92%
Micron Technology Inc. (MU) $62.07 3.24%
Expedia Group Inc. (EXPE) $114.95 3.23%
Vodafone Group Plc ADS (VOD) $12.05 3.17%
Booking Holdings Inc. (BKNG) $2,471.05 1.98%
Align Technology Inc. (ALGN) $331.52 1.92%

Nasdaq 100 - Fallers

Paypal Holdings Inc (PYPL) $77.26 -2.76%
Qurate Retail Inc. (QRTEA) $2.38 -2.46%
Gilead Sciences Inc. (GILD) $85.68 -2.07%
Check Point Software Technologies Ltd. (CHKP) $125.97 -1.79%
Intuitive Surgical Inc. (ISRG) $241.09 -1.65%
Illumina Inc. (ILMN) $212.83 -1.44%
Paychex Inc. (PAYX) $113.94 -1.36%
Regeneron Pharmaceuticals Inc. (REGN) $754.21 -1.28%
Sirius XM Holdings Inc (SIRI) $4.65 -1.27%
Verisk Analytics Inc. (VRSK) $176.82 -1.26%