In This Article:
-
US stocks were mixed midday Tuesday, with the Nasdaq edging higher after falling earlier in the day.
-
Monday's big tech rally stalled as Treasury yields and oil prices moved higher.
-
Investors are looking ahead to the December inflation report due out on Thursday.
US stocks were mixed at midday on Tuesday as the previous session's tech-led bounce fizzled, with investors again focused on future monetary policy and inflation.
The Nasdaq was higher after falling earlier in the session, while the Dow Jones Industrial Average and the S&P 500 were lower.
The retreat came as Treasury yields climbed, with the 10-year rate moving further above 4%. Investors are also looking ahead to the release of consumer price data on Thursday, which will offer more clues on when the Federal Reserve could lower rates.
Meanwhile, oil prices rallied 2%, rebounding from Monday's decline after Saudi Arabia slashed prices.
Here's where US indexes stood shortly after 1:00 p.m on Tuesday:
-
S&P 500: 4,759.91, down 0.08%
-
Dow Jones Industrial Average: 37,502.35, down 0.48% (-180.67 points)
-
Nasdaq Composite: 14,874.45. up 0.2%
Here's what else happened today:
-
Here's why the AI-driven rally is nothing like the dot-com bubble.
-
The S&P 500 could hit a new record this year, but plummeting interest rates could be bad news for stocks, Jeremy Siegel said.
-
Hedge funds are dumping mega-cap tech stocks as the "Magnificent Seven" have a rough start to 2024.
-
Here are three ways to approach equities this year, according to Morgan Stanley's investment chief.
In commodities, bonds, and crypto:
-
West Texas Intermediate crude oil rose 2.7% to $72.73 a barrel. Brent crude, the international benchmark, climbed by 2.1% to $77.76 a barrel.
-
Gold inched 0.50% higher to $2,038.51 per ounce.
-
The 10-year Treasury yield increased 1.7 basis points to 4.019%.
-
Bitcoin stayed essentially flat at $46,832.
Read the original article on Business Insider