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Stocks Slip Ahead of Wednesday’s Major Events, Apple Jumps to Record Highs, Bitcoin Drops to $66,500: What’s Driving Markets on Tuesday?
Stocks Slip Ahead of Wednesday’s Major Events, Apple Jumps to Record Highs, Bitcoin Drops to $66,500: What’s Driving Markets on Tuesday?
Wall Street traded slightly in the red on Tuesday morning as markets took a cautious stance ahead of the inflation report and the Federal Open Market Committee. (FOMC) on Wednesday.
The S&P 500 was down 0.2% at 12:55 p.m. in New York, marking its worst daily performance of the month to date.
Despite the overall market decline, the tech-heavy Nasdaq 100 avoided losses, driven by a strong rebound in the Apple Inc. (NASDAQ:AAPL). The Cupertino-based iPhone maker rose 5.9%, reflecting last month’s post-earnings reaction driven by upbeat analyst notes following Tuesday’s WWDC event.
Blue-chip Dow Jones stocks fell 0.7%, while small-cap stocks lagged behind, falling 1%. Treasury yields saw little movement, with the benchmark 10-year note 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 remained stable at $77 per barrel.
Bitcoin (CRYPTO: Bitcoin) had the biggest underperformance of the day, falling more than 4% to $66,500 and targeting its worst daily performance since late April.
Tuesday Performance in Major US Indices and ETFs
|
Main indices |
Price |
1-day percentage change |
|
Nasdaq 100 |
19,076.80 |
0.0% |
|
S&P 500 |
5,348.59 |
-0.2% |
|
Dow Jones Index |
38,578.53 |
-0.7% |
|
Russell 2000 |
2,018.79 |
-1.0% |
Updated at 12:55 p.m. ET
According to Benzinga Pro data:
-
O SPDR S&P 500 ETF Fund (NYSE:SPY) fell 0.3% to $534.10.
-
O SPDR Dow Jones Industrial Average (NYSE:DAY) fell 0.7% to $386.43.
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The technology heavy Invesco QQQ Trust (ARCA: QQQ) was flat at $464.60.
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Sectorally, the Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, an increase of 1%, while the Finance Selected Sector SPDR Fund (NYSE:XLF) was left behind, with a drop of 1.5%.
Tuesday Stock Movers
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FMC Corp. (NYSE:FMC) rose 3.5% after Pierre Brondeau returned as president and executive director.
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NextEra Energy Inc.. (NYSE:NO) plunged 6.7%, targeting its worst daily performance since October 2023, after the company issued weaker guidance.
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State Street Corp. (NYSE:STT) It is BlackRock Inc. (NYSE:BLACK) fell 4.5% and 1.7%, respectively, after Reuters revealed that a US Congressional committee will accuse Wall Street’s biggest companies of climate-related collusion.
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Affirm Holdings Inc. (NASDAQ:AFRM) rose more than 8% after Apple announced the inclusion of the company’s products in Apple Pay later this year.
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DXC technology company (NYSE:DXC) rose 11.5% amid interest in acquiring Apollo Global Management It is Kyndryl Participações
Read now: Affirm soars after Apple partnership announcement: what it means for users
The story continues
Image generated with artificial intelligence via Midjourney.
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This article Stocks Slip Ahead of Wednesday’s Major Events, Apple Jumps to Record Highs, Bitcoin Drops to $66,500: What’s Driving Markets on Tuesday? originally appeared in Benzinga. with
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