U.S. Stocks Edge Up Despite Mixed Data; Fed Meeting in Focus

The U.S. stock market opened with modest gains on Tuesday, with the NASDAQ, S&P 500, and DOW Jones Industrial Average (DJIA) all posting increases of 0.01% to 0.02%. The NASDAQ Composite Index led the way, rising 0.02% to 13,972.55, while the S&P 500 Index climbed 0.01% to 4,146.87. The DJIA also gained 0.01% to 34,053.94.

The gains came despite a mixed bag of economic data released earlier in the day. The U.S. Census Bureau reported that retail sales fell 0.4% in February, missing expectations of a 0.3% increase. However, the Labor Department reported that initial jobless claims fell to 192,000, the lowest level since 1969. The University of Michigan's consumer sentiment index also rose to 62.0 in March, up from 58.8 in February.

The tech sector was the standout performer on Tuesday, with the NASDAQ Composite Index's 0.02% gain led by a 0.5% increase in the Philadelphia Semiconductor Index. The S&P 500 Information Technology Select Sector Index also rose 0.2%. Meanwhile, the energy sector was the biggest loser, with the S&P 500 Energy Select Sector Index falling 0.5% on lower oil prices.

The gains in the U.S. stock market came as investors awaited the outcome of the Federal Reserve's two-day policy meeting, which began on Tuesday. The Fed is widely expected to raise interest rates by 0.25% on Wednesday, but investors will be closely watching for any hints about the future path of monetary policy.

In other news, China's economy grew by 4.2% in the first two months of the year, according to data released by the National Bureau of Statistics. The growth rate was slightly lower than the 4.8% growth rate in the fourth quarter of 2022. The data comes as China continues to grapple with the impact of the COVID-19 pandemic and the slowdown in the global economy.

Looking ahead, investors