The Dow Jones Industrial Average was down, the S&P 500 was roughly flat and the Nasdaq Composite was up in late-morning trading Tuesday, as investors digested the latest batch of inflation data.
The Bureau of Labor Statistics said the US seasonally adjusted consumer price index, a measure of inflation, rose by 0.3% in December, right on expectations in a survey compiled by Bloomberg. However, core CPI, which excludes food and energy prices, rose by 0.2%, slower than the consensus estimate for a 0.3% increase.
In company news, Boeing (BA) rose nearly 3% in recent trading after the company reported Q4 commercial airplane deliveries of 160, up from 57 aircraft a year earlier. Deliveries across its defense, space, and security programs in Q4 were 37, up from 36 a year earlier.
Drugmakers, including Novo Nordisk (NVO) and Eli Lilly (LLY), should remove label warnings of a potential risk of suicidal thoughts and behavior from GLP-1 weight loss drugs, the Food and Drug Administration said. The regulator said that a comprehensive review of the drugs showed "no increased risk" of suicidal behaviors or ideation.
JPMorgan Chase (JPM) fell 3% after reporting Q4 earnings of $4.63 per diluted share, down from $4.81 a year earlier. Analysts polled by FactSet expected $4.85. Revenue stood at $45.80 billion, up from $42.77 billion a year earlier. Analysts surveyed by FactSet expected $46.17 billion.
L3Harris Technologies (LHX) rose 1.2% after the company said the US Department of War plans to invest $1 billion through a convertible preferred security in the company's Missile Solutions unit, which would convert to common equity after an initial public offering expected in the second half of the year.
Exxon Mobil (XOM) remains interested in Venezuela's energy industry and is prepared to send an assessment team to the country, Reuters reported, citing a source familiar with the company's strategy. The company's shares were up 1.2% in recent trading.
Separately, TotalEnergies (TTE) Chief Executive Patrick Pouyanne said ramping up Venezuela's oil industry could take years and billions of dollars in investments, according to media reports published Tuesday. Shares of the company were up 1.5% in recent trading.
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