Stocks are flat as Dow approaches 40,000: Live updates

Stocks saw modest gains with the Dow Jones Industrial Average inching closer to the 40,000 mark, bolstered by Walmart's strong quarterly results which surged over 5%. The S&P 500 and Nasdaq also recorded slight increases. This upward trend follows a broader market surge, fueled by a consumer price index report indicating slightly lower-than-expected inflation rates.

In other market news, Wolfe Research shifted its preference from Nvidia to AMD in its Alpha List, citing a tactical shift after Nvidia's significant year-to-date performance. This decision comes just before Nvidia's earnings report, which is highly anticipated given its substantial stock price increase this year.

Meanwhile, economic indicators showed mixed signals with import prices rising unexpectedly due to higher food and fuel costs, suggesting ongoing inflation pressures. Additionally, jobless claims slightly decreased, while building permits fell below expectations, painting a complex picture of the current economic environment.