Traders are adopting a more cautious stance toward the stock market on Tuesday as they await the earnings reports of major tech companies and the Federal Reserve Open Market Committee meeting scheduled for Wednesday.
Both the S&P 500 and the Nasdaq 100 were in the red around noon in New York trading, while blue-chip stocks in the Dow are showing slight strength. The U.S. dollar and Treasury yields are holding steady.
On the economic data front, the JOLTS report unexpectedly revealed a rise in job openings to 9.03 million, surpassing the forecasted 8.75 million. Additionally, the S&P CoreLogic Case-Shiller 20-city home price index in the U.S. increased by 5.4% year-on-year in November 2023, reaching a one-year high, compared to a 4.9% rise in October but falling below market expectations of 5.8%.
Tuesday’s Performance In Major Indices, ETFs
| Index | Price | % Change |
|---|---|---|
| Dow Jones | 38,389.83 | +0.1% |
| S&P 500 | 4,922.80 | -0.1% |
| Nasdaq 100 | 17,485.99 | -0.6% |
| Russell 2000 | 1,991.20 | -1.1% |
Sector-wise, the Financials Select Sector Fund (NYSE:XLF) outperformed, up 1.1%. The Technology Select Sector Fund (NYSE:XLK) underperformed, down 0.9%.
Tuesday’s Stock Movers
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