S&P500 And NASDAQ Slip As The Dow Rises Slightly (CVX, RDS.A, XOM, BIDU, AAPL)

Both NASDAQ and S&P 500 dropped Tuesday amidst fears of slowing consumer confidence and questions about a speedy recovery from financial crisis. The Dow held on to modest gains as both Chevron Company (NYSE: CVX), Royal Dutch Shell (NYSE: RDS.A) and Exxon Mobil (NYSE: XOM)are set to release earnings information later this week following strong earnings from BP.

Analysts believe that after a good run culminating in the Dow going over the 10,000 mark, investor feel the market is now overvalued and are willing to wait for consumer confidence to improve.
Baidu (NASDAQ: BIDU), the Chinese Web Search Company set the tone with a decline of 13% in their share prices after announcing that they expect their fourth quarter revenue to decrease. Apple Inc. (AAPL) also went down to $197.71, a 2.4% decline. This comes after the makers of Mac and iPhone gained a record high and pummeling analyst expectations.

The Dow Jones Industrial Average gained 28.04 points while S&P500 went down 2.23point. The NASDAQ Composite Index fell 23.31 points.