Last Updated 4:05PM EST
Stock indices finished today’s choppy trading session with mixed results. The Dow Jones Industrial Average (DJIA) gained 0.31%. Meanwhile, the S&P 500 (SPX) and the Nasdaq 100 (NDX) fell 0.07% and 0.22%, respectively.
The healthcare sector (XLV) was the session’s laggard, as it lost 0.68%. Conversely, the industrial sector (XLI) was the session’s leader, with a gain of 0.66%.
WTI crude oil fell but remains over the $80 per barrel level as investors expect Chinese demand for oil to increase as their economy reopens.
Meanwhile, bond yields decreased, as the U.S. 10-Year Treasury yield is now hovering around 3.46%. This represents a decrease of more than five basis points from the previous close.
Similar movements can be seen with the Two-Year yield, which is now at 4.21%. As a result, the spread between the 10-Year and Two-Year U.S. Treasury yields is still negative, as it currently sits at -75 basis points.
Last updated: 2:57PM EST
Stock indices are mixed heading into the final hour of today’s trading session. As of 2:57 p.m. EST, the Dow Jones Industrial Average (DJIA) and the S&P 500 (SPX) are up 0.4% and 0.1%, respectively. Meanwhile, the Nasdaq 100 (NDX) is down 0.1%.
Last updated: 1:07PM EST
Stock indices fell into the red again after briefly recovering from this morning’s drop. As of 1:07 p.m. EST, the Dow Jones Industrial Average (DJIA) was flat. Meanwhile, the S&P 500 (SPX) and the Nasdaq 100 (NDX) are down 0.2% and 0.4%, respectively.
Last updated: 11:30AM EST
Stock indices have recovered in the latter stages of this morning’s trading session. As of 11:30 a.m. EST, the Dow Jones Industrial Average (DJIA) was up 0.1%. Meanwhile, the S&P 500 (SPX) and the Nasdaq 100 (NDX) are both flat.
On Tuesday, Markit released its preliminary report for the U.S. Manufacturing Purchasing Managers Index, which measures the month-over-month change in manufacturing activity. A number over 50 represents an expansion, whereas anything below 50 represents a contraction. The report came in at 46.8, higher than the expected 46.
It’s worth noting that this indicator has been downtrending ever since its peak in August 2021, when it hit a high of 63.4. In addition, it has been in the contraction range since November.
Indeed, the Federal Reserve is trying to destroy demand in order to cool down inflation. Although it is attempting a soft landing, it’s more likely that it will tighten too far. As a result, the manufacturing sector will likely continue being a casualty.
Last updated: 9:46AM EST
Stock markets dipped at open on Tuesday as yesterday’s stock rally fizzled out.
The Dow Jones Industrial Average (DJIA) slid 0.3% while the S&P 500 (SPX) declined 0.6%, as of 9:46a.m. EST, Tuesday. Meanwhile, the Nasdaq 100 (NDX) fell 0.4%.
Amid a busy stretch of corporate earnings this week, today, Johnson & Johnson (NYSE:JNJ) delivered better-than-expected Q4 results while aerospace and defense companies like Raytheon Technologies Corp. (NYSE: RTX) and Lockheed Martin Corp. (NYSE: LMT) reported a mixed bag of results.
First published: 6:04AM EST
Stock futures dipped early Tuesday morning as investors looked for reasons to continue the positive momentum in the market amid a busy week of corporate earnings.
Futures on the Dow Jones Industrial Average (DJIA) slid 0.22% while those on the S&P 500 (SPX) inched down 0.24%, as of 6:04 a.m. EST, Tuesday. Meanwhile, the Nasdaq 100 (NDX) futures retreated 0.36%.
This is a laidback week for Wall Street with no scheduled updates from the Federal Reserve. Investors are hopeful that this week will bear no negative news and are thus trying to sustain the rally that lifted the market last Friday.
The only focus will be on earnings and the guidance provided by the companies. Among the big names reporting on Tuesday before the bell are General Electric (NYSE:GE), Johnson & Johnson (NYSE:JNJ), and Verizon (NYSE:VZ). Tuesday afternoon will see tech giant Microsoft (NASDAQ:MSFT) reporting its quarterly results.
At the closing bell on Monday, the market saw the S&P 500, the Dow, and the Nasdaq 100 clinch gains of 1.19%, 0.76%, and 2.18%, respectively. The gains, the third positive day in a row, came despite a lukewarm mix of earnings that have been released so far.
Also, more updates came in recent weeks that indicated that the economy is slowing but holding up well. However, investors seem to be taking it in their stride and seeing it as a positive. A slowing economy means that the Fed might finally think of taking a break from raising interest rates.
However, that is not likely to happen in the upcoming FOMC meeting on January 31 through February 1. The central bank is largely expected to hike the rate, albeit at a slower pace, taking the rate up by 25 basis points. Markets are expected to resume being volatile next week, around the days of the FOMC meeting.
Asia-Pacific Celebrates Lunar New Year and Tech Rally
Elsewhere, as the week-long Lunar New Year holidays are celebrated in most of the Asia-Pacific region, the S&P/ASX 200 climbed 0.44% as Wall Street’s tech-led rally rubbed off on the Australian market. On the other hand, New Zealand’s S&P/NZX 50 were trading in the red on Tuesday.
Meanwhile, in Japan, the Nikkei 225 rose 1.46% and the Topix gained 1.42%. The Japanese yen strengthened 0.42% against the greenback.
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