US wavered on Tuesday as investors trod carefully on the eve of a closely watched consumer inflation report seen as key to the path of interest rates.
The Dow Jones Industrial Average ( ^DJI ) traded just above the flatline while the S&P 500 ( ^GSPC ) fell around 0.1% after all three gauges started the week with small losses . Meanwhile, the tech-heavy Nasdaq Composite ( ^IXIC ) reversed earlier gains to drop about 0.2%.
Alphabet ( GOOG , GOOGL ), which initially boosted the overall tech sector in early trade, saw shares jump over 4% after the Google parent claimed breakthroughs in quantum computing through the use of its new Willow quantum chip .
While are broadly muted, they are not far off from record highs as investors wait for Wednesday's update on consumer prices . Hopes are that the November inflation reading will provide further evidence of a "soft landing" for the economy, justifying widespread bets on a Federal Reserve rate cut in December.
Elsewhere in individual moves, Oracle ( ORCL ) shares fell over 7% after its quarterly revenue fell short in the face of tough cloud competition.
Investors also weighed chipmaker Taiwan Semiconductor Manufacturing Co.'s ( TSM , 2330.TW ) report of a 34% year-on-year jump in revenue in November. While the sales number suggested sustained AI demand, it was also a decline from the previous month's reading. The Apple ( AAPL ) and Nvidia ( NVDA ) suppliers' slipped nearly 3%.
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