US Stocks ended up mixed, gains reversed, investors keep their hands calm
Benchmark equities ended reversing results from yesterday, while investors adopted a wait and see mode.
By: Investam HK Limited
What played a big part on this is the passive attitude of the traders that are waiting for the Federal Reserve monetary policy to be passed down on Wednesday, as well as the remaining 1st quarter reports of corporate earnings from big companies. The stocks of the said companies are currently under close monitoring by the traders and are said to be underperforming on the broad market.
The Dow Jones Industrial Average managed to bounce back and slightly earned today. An increase of 3.36% was observed and brought it 15 points away from the 34,000 mark. On the other hand, NASDAQ dropped by 0.34% cutting down yesterday's gains.
The blue-chip index, S&P, is the only major index whose score went up, slightly by 0.0099%. Major market futures stand the same as the Dow futures are the only ones above the green line among the 3.
NASDAQ Composite was affected by Tesla's shares dropping in value. Their Q1 report shows sales missing estimates, while though earnings exceeded expectations as well as their gross margin.
The Dow Jones Industrial Average recovered losses as from Monday, as most traders are still waiting before making any big moves.
S&P 500 pulled back from yesterday's record, but is expected to bounce back tonight as big companies, such as Starbucks (SBUX), Microsoft (MSFT) and Alphabet (GOOGL) will be releasing their Q1 reports.
Here are the key movements in today's session, Tuesday:
- The Dow Jones Industrial Average stepped down by 0.75% or 256.33 points, ending at 33,821
- The S&P 500 Index drifted lower by 0.02% or 0.90 points to close with 4,187
- NASDAQ Composite Index lost 0.34% or 48.56 points, closing at 14,090
- U.S. 10 Year Treasury yield went up by 5.2 basis points and now at 1.6220%
- Crude is at $63.23 per barrel after gaining 2.13% or $1.32
- Gold is currently at $1,775.60 an ounce with an increase of 0.25% or $4.50
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