Wall Street off to a mixed start on Tuesday

The main indices on Wall Street have moved in different directions on Tuesday morning as traders seemed unsure of which way to turn. Shortly after the opening bell, the Dow Jones Industrial Average was down 0.13% at 32,915. The other indices were positive, with the S&P 500 climbing 0.12% to 3,973 while the Nasdaq rose 0.65% to 13,546. Markets seem to be waiting for more clarity on the direction the economy could take, with many likely to hold fire until after the Federal Reserve meets on Wednesday. New US industrial production data may also have thrown a spanner in the works, showing a 2.2% drop in February as severe winter weather dented factory output. 7:50am: Wall Street set for mixed start After hitting new highs yesterday, US markets are set for an indecisive opening today. The Dow Jones Industrial Average is expected to slide 19 points to 32,934 while the S&P 500 is tipped to open one point higher at 3,970. The Nasdaq 100, which was fell back yesterday, is again expected to be out of step, opening 58 points higher at 13,140. “The intense focus on US treasury yields is easing, aided by a shift lower in the benchmark 10-year bond yield to 1.60% ahead of the Fed’s rate decision tomorrow," said OANDA’s Sophie Griffiths. “No change in policy is expected. Both the GDP and inflation forecast are expected to be upgraded and accompanied by a statement from the Fed saying they will remain accommodative. A win-win for the markets, surely? Only if they believe the Fed. “US futures are easing back off the record highs reached in the previous session. Attention will now turn to US retail sales, which are expected to ease slightly -0.5% MoM [month-on-month] in February after January’s outsized gain of 5.3%,” she added. Four things to watch for on Tuesday: Firms in the earnings diary for Tuesday include cybersecurity group Crowdstrike Holdings Inc (NASDAQ:CRWD), insurance firm Lennar Corp (NYSE:LEN) and software specialist Smartsheet Inc (NYSE:SMAR) Meanwhile, shares in Reddit favourite AMC Entertainment Holdings Inc (NYSE:AMC) could also draw attention after the firm reopened its theatres in Los Angeles and saw its shares boosted on Monday after a key investor reduced its stake Shares in Coca-Cola Co (NYSE:KO) could also get a look in after the firm was initiated with a ‘buy’ rating and US$65 target price by analysts at broker Redburn On the macro front, US retail sales for February will be the key focus, while investors may also take interest in industrial and manufacturing production figures as well as the NAHB housing market index for March