*WALL ST ENDS MIXED AS ALL EYES TURN TO U.S. INFLATION DATA $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
NEW YORK - Wall Street stocks ended mixed on Tuesday, losing steam late in the session as investors awaited crucial inflation data and the unofficial kick-off of first-quarter reporting season.
Stocks briefly gained momentum in the afternoon as Chicago Fed President Austan Goolsbee urged caution, warning that the Federal Reserve needs to be careful about raising rates too aggressively in its efforts to tame inflation. "It's the calm before the storm," Detrick added."With huge inflation data tomorrow, Fed minutes coming out soon and earnings right around the corner, traders are taking a wait and see approach to see how the inflation data comes in."
As inflation slowly cools to the Fed's average annual 2% target, market participants are banking on a 67% likelihood of another 25 basis point interest rate hike at the conclusion of its May monetary policy meeting, according to CME's FedWatch tool.
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