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Investing.com — U.S. stock markets opened mixed on Tuesday as investors largely marked time ahead of the Federal Reserve’s two-day meeting which starts later.
Expectations are that the Fed will start to phase out its bond purchases, which have run at $120 billion a month since early last year, to reflect the progress made by the economy this year – and the increasing nervousness about a rise in inflation that seems set to last longer than originally predicted.
By 9:45 AM ET (1345 GMT), the Dow Jones Industrial Average was down 8 points, only minutely below the record high close it set on Monday. The S&P 500 and Nasdaq Composite, which also closed at record highs, were both up 0.1%.
Tesla (NASDAQ:TSLA) stock quickly overcame its premarket dip, paring a loss of 5% before the open to be down only 0.6%. The stock had fallen after CEO Elon Musk tweeted that Hertz Global has yet to sign a contract for the 100,000 Tesla Model 3 cars that it said it would add to its fleet by the end of 2022 last week. Hertz stock, by contrast, fell 8.9%. Tesla is also having to recall nearly 12,000 cars because of safety issues, according to an NHTSA release.
