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US stocks were mixed on Tuesday, as the market's weak start to the year dragged on.
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The S&P 500 and Dow retreated after scoring gains on Monday, while the Nasdaq ticked higher.
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The 10-year Treasury yield remained above 4%, and oil prices climbed higher.
US stocks traded mixed on Tuesday, as the market's weak start to the year dragged on with the S&P 500 and Dow giving back big gains from the prior session.
The Nasdaq eked out a gain, though a bigger rally in mega-cap tech stocks had abated by the end of the day. Still, among notable names were Nvidia, which notched another all-time high of $535.76, while Amazon and Alphabet rose 1.34% and 1.43%, respectively.
At the same time, broader equity upside was held back as investor concern over future monetary policy returned. Treasury yields remained elevated, with the 10-year rate ticking further above the 4% threshold.
Investors are awaiting Thursday's release of consumer price data, which will inform the Federal Reserve on where to take interest rates.
Tuesday also saw oil prices rally by roughly 2%, despite Saudi Arabia's price slash earlier in the week.
Here's where US indexes stood at the 4:00 p.m closing bell on Tuesday:
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S&P 500: 4,756.50, down 0.15%
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Dow Jones Industrial Average: 37,525.16, down 0.42% (157.85 points)
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Nasdaq Composite: 14,857.71, up 0.09%
Here's what else happened today:
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Surging Russian demand has made China the world's number one car exporter.
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RBC sees the S&P 500 rising 8% this year, but warned of choppiness ahead.
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Disappointing corporate earnings could mean a 17% peak-to-trough decline for stocks, Evercore said.
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The market's looking like 2022, when stocks dropped 20%, David Rosenberg warned.
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Global markets will avert worst-case scenarios, but risks remain, "Dr. Doom" Nouriel Roubini said.
In commodities, bonds, and crypto:
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West Texas Intermediate crude oil jumped 2% to $72.16 a barrel. Brent crude, the international benchmark, rose by 1.9% to $77.53 a barrel.
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Gold slid 0.38% to $2,029.73 per ounce.
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The 10-year Treasury yield climbed 1.3 basis points to 4.015%.
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Bitcoin fell 0.42% to $46,739.
Read the original article on Business Insider