U.S. stocks open lower as tech shares retreat after Oracle earnings; investors await Apple event, inflation data

U.S. stock indexes opened lower on Tuesday after starting the week on a strong footing, with disappointing guidance from Oracle weighing on technology stocks. The Nasdaq Composite
COMP,
-0.56%
was off 0.4%, while the S&P 500
SPX,
-0.21%
was dropping 0.3% and the Dow Jones Industrial Average
DJIA,
+0.29%
was falling 0.2%. Oracle Corp.
ORCL,
-13.10%
shares slumped 11.5% at the open after the cloud database company posted earnings and guidance that fell short of Wall Street expectations. Investors were awaiting Apple’s marketing event later in the session with the company set to unveil its highly anticipated iPhone 15 series at 1 p.m. Eastern. On Wednesday, investors will receive August Consumer Price Index data, which is expected to show the headline inflation accelerated to 0.6% last month from July’s 0.2% gain, while the core measure that strips out volatile food and fuel costs is forecast to rise a mild 0.2% from a month earlier, according to a survey of economists by The Wall Street Journal.