Exchange on Dec. 2, 2024. Brendan Mcdermid | Reuters Stocks were little changed on Tuesday, as traders digested a year-end rally to record levels while awaiting new U.S. inflation data set for release this week. The S&P 500 and the Dow Jones Industrial Average each hovered around the flatline. The Nasdaq Composite rose 0.1%. Oracle shares slumped more than 7% after the database software company posted fiscal second quarter results that missed Wall Street’s estimates. The stock has jumped more than 67% this year. ″[The market] has been narrowing over the past week,” CFRA Research’s chief investment strategist Sam Stovall said to CNBC. “Investors are waiting to see if that simply is your traditional seasonal softness in mid-December, and I think [they] are expecting the participation to broaden out once again as the market does indeed go through an end-of-year pop.” The major averages fell on Monday. The S&P 500 and the Nasdaq Composite slid about 0.6%, dropping from recent records as shares of Nvidia declined. Shares of the chip giant were more than 1% lower Tuesday, extending the more than 2% loss seen in the previous session after a Chinese regulator said it was investigating the company for possibly violating the country’s antimonopoly law. By contrast, Meta Platforms – which also saw losses in the previous session – was slightly higher Tuesday, rising nearly 1%. Investors are now waiting on the U.S. consumer price index report, which is due Wednesday and could influence how the Federal Reserve proceeds on interest rates at its Dec. 17-18 meeting. Economists polled by Dow Jones forecast that headline inflation rose 0.3% in November and 2.7% over the prior 12 months. 36 Min Ago Equal weight S&P 500 fund on track to extend losing streak The Invesco S&P 500 Equal Weight ETF (RSP) dipped 0.5% on Tuesday, putting the fund on track for its fourth straight losing session and sixth in the past seven, according to FactSet data. hide content Invesco Exchange-Traded Fund Trust - Invesco S&P 500 Equal Weight ETF RSP:NYSE Arca + View Quote Details 183.97 quote price arrow down-0.46 (-0.25%) Last | 12:08 PM EST The declines have also come during the session. As Bespoke Investment Group pointed out in a post on social media site X, the RSP has seen intraday declines in six straight sessions. It would need to rally and close above $184.46 to snap that streak on Tuesday. The struggles for the RSP are notable because the equal weight fund can be a proxy for market breadth. While the S&P 500 has become increasingly concentrated in a handful of tech names over the past year, the behavior of the RSP is more indicative of the broader large cap stock universe. — Jesse Pound 1 Hour Ago China funds pull back China-focused exchange-traded funds relinquished some gains on Tuesday, a day after the country promised “more proactive” fiscal stimulus and looser monetary policy. The iShares China Large-Cap ETF (FXI) and iShares MSCI China ETF (MCHI) each slid just over 4.5% in late morning trading. The KraneShares CSI China Internet ETF (KWEB) also