Markets
Stocks Improve Ahead of Key Wednesday Events, Apple Hits Record Highs, Bitcoin Falls to $66,500: What’s Driving Markets Tuesday?
Stocks Improve Ahead of Key Wednesday Events, Apple Hits Record Highs, Bitcoin Falls to $66,500: What’s Driving Markets Tuesday?
Wall Street was trading slightly in the red Tuesday morning as markets took a cautious stance ahead of the inflation report and the Federal Open Market Committee. (FOMC) Wednesday.
The S&P 500 fell 0.2% as of 12:55 p.m. in New York, marking its worst daily performance since the start of the month.
Despite the overall market decline, the tech-heavy Nasdaq 100 avoided losses, supported by a strong recovery in Apple Inc. (NASDAQ:AAPL). The Cupertino-based iPhone maker jumped 5.9%, reflecting last month’s post-earnings reaction driven by bullish analyst ratings. after Tuesday’s WWDC event.
Blue-chip Dow Jones stocks fell 0.7%, while small-cap stocks lagged, down 1%. Treasury yields were little changed, with the benchmark 10-year security holding steady at a yield of 4.46%.
Commodities were weaker overall, with gold and silver falling 0.2% and 1.9%, respectively, while West Texas Intermediate (WTI) crude oil was flat at $77 per barrel.
Bitcoin (CRYPTO: BTC) was the biggest underperformer of the day, falling more than 4% to $66,500 and eyeing its worst daily performance since late April.
Tuesday performance of major US indices and ETFs
|
Major clues |
Price |
% change over 1 day |
|
Nasdaq100 |
19,076.80 |
0.0% |
|
S&P500 |
5,348.59 |
-0.2% |
|
Dow Jones |
38,578.53 |
-0.7% |
|
Russell 2000 |
2,018.79 |
-1.0% |
Updated at 12:55 p.m. ET
According to BenzingaPro data:
-
THE SPDR S&P 500 ETF Trust (NYSE:TO SPY) was down 0.3% at $534.10.
-
THE SPDR Dow Jones Industrial Average (NYSE:DIA) was down 0.7% at $386.43.
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The heavy on technology Invesco QQQ Trust (ARCA: QQQ) was stable at $464.60.
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On a sectoral level, the Technology Selected sector SPDR fund (NYSE:XLK) outperforms, up 1%, while the Selected sector SPDR fund for financial services (NYSE:XLF) is lagging behind, down 1.5%.
Tuesday’s movers
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FMC Corp. (NYSE:FMC) increased by 3.5% after Pierre Brondeau returned as President and CEO.
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NextEra Energy Inc.. (NYSE:BORN) fell 6.7%, eyeing the worst daily performance since October 2023, after the company issued weaker guidance.
-
State Street Corp. (NYSE:STT) And BlackRock Inc. (NYSE:BLACK) fell 4.5% and 1.7%, respectively, after Reuters revealed that a US Congressional committee was preparing to accuse Wall Street’s biggest firms of climate-related collusion.
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Affirm Holdings Inc. (NASDAQ:AFRM) rose more than 8% after Apple announced the company’s products would be included in Apple Pay later this year.
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DXC Technology Company (NYSE:DXC) jumped 11.5% due to acquisition interest in Apollo Global Management And Kyndryl Holdings
Read now: Affirm soars after Apple partnership announcement: What it means for users
The story continues
Image generated using artificial intelligence via Midjourney.
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