Market Opens with Mixed Signals Amid Inflation Data

Investors faced a mixed bag at the start of Tuesday's session as major US stock indexes showed varied responses to the latest consumer price report. The data revealed a slight decrease in the annual inflation rate to 2.3% in April, down from 2.4% in March.

Key Movements in Major Indexes

The Dow Jones Industrial Average took a hit, dropping 0.39% or 164 points, largely due to a significant 10.35% fall in UnitedHealth shares. Conversely, the Nasdaq 100 saw a modest gain of 0.19%, buoyed by a 2.99% rise in Palantir Technologies. The S&P 500 remained relatively unchanged.

US-Saudi Economic Partnership Announced

Adding to the day's news, it was confirmed that the United States and Saudi Arabia have entered into an economic partnership agreement during President Donald Trump's visit to the Middle East.

Currency Movements

On the currency front, the euro strengthened against the dollar, marking a 0.51% increase to $1.11432 by 9:29 am ET.