U.S. stocks closed narrowly mixed after volatile trading Tuesday, as investors digested a batch of economic reports. The Dow Jones Industrial Average rose 6.49 points, or 0.04 percent, to 17,489.50. The S&P 500 fell 2.75 points, or 0.13 percent, to 2,050.44. The Nasdaq Composite Index edged up 1.40 points, or 0.03 percent, to 4,986.02. The U.S. Consumer Price Index (CPI) for all urban consumers increased 0.2 percent in October on a seasonally adjusted basis, in line with market consensus, the Labor Department reported Tuesday.
The so-called core CPI, which strips out food and energy costs, edged up 0.2 percent in October, a similar increase as in September. The core CPI rose 1.9 percent over the past 12 months. "The CPI is trending ever-so-slowly higher, both headline and core. The increase, however, is entirely built on the dubious premise home owners' costs rise at the same rate as renters' costs, " said Chris Low, chief economist at FTN Financial, in a note. Meanwhile, U.S. industrial production declined 0.2 percent in October after decreasing by the same margin in September, missing market estimates of a 0.1-percent gain, according to statistics from the Federal Reserve Tuesday.
Investors also keep a close eye on the minutes from the Federal Open Market Committee (FOMC) due out Wednesday. Traders will look for more hints on the timing of interest rate hikes by the U.S. central bank. In corporate news, shares of Wal-Mart rose 3.54 percent to 59. 92 U.S. dollars apiece Tuesday, after the retail giant reported quarterly profit that beat estimates. The company's quarterly diluted earnings per share from continuing operations were 1.03 dollars, benefited by approximately 4 cents from an adjustment for certain leases.
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