U.S. stocks started a shortened holiday week mostly higher as investors look for more clues into how President Donald Trump's tariff plans shake out and wait for release on Wednesday of minutes from the last Federal Reserve meeting.
Markets were closed on Monday for President's Day.
Stocks are coming off a winning week, carving out most of their gains after Trump delayed plans to impose a broad range of reciprocal tariffs. Trump asked for a study of reciprocal tariffs, which could be complete by April 1.
Depsite worries about tariffs and an unexpected rise in inflation, stocks have still managed to climb towards record highs this year. The blue-chip Dow and the tech-heavy Nasdaq are about 1% off their recent record peaks, while the broad S&P 500 is just 0.2% off its own all-time high.
Just before10 A.M. ET, the broad S&P 500 index edged up 0.097%, or 5.94 points, to 6,120.57; the blue-chip Dow eased 0.21%, or 92.75 points, to 44,453.33; and the tech-heavy Nasdaq inched up 0.15%, or 29.55 points, to 20,056.32. The benchmark 10-year Treasury yield edged up to 4.511%.
With inflation on their minds, investors will be eager to get a glimpse of the Fed's thinking when minutes from the last monetary policy meeting are released on Wednesday. Fed Chair Jerome Powell has said he's in no rush to lower rates, but the minutes may provide a clearer look into how different members see inflation, tariffs and the labor market as they decide the next move for interest rates. More economists are predicting the rate-cutting cycle to be over, and the next move to possibly be a rate hike.
A report Tuesday morning showed manufacturing activity in the New York region rose but so did the inflation measure, called prices paid, within the report. The prices paid index jumped to the highest level in about two years as prices increased.
While investors wait for broad economic signs, company news continued to flow. Some early movers include: