The U.S. stock market lacked direction on Tuesday morning as investors stayed on the sidelines ahead of Wednesday’s release of November inflation data, a critical report that could influence the Federal Reserve’s decision on a potential interest rate cut next week.
Large-cap indices hovered near unchanged levels, while small caps slightly outperformed, with the Russell 2000 up 0.3%.
Notable strength was seen in discretionary and communication services, buoyed by impressive gains in Tesla Inc. (NASDAQ:TSLA) and Alphabet Inc. (NASDAQ:GOOGL).
Tesla shares surged 4.7%, bringing the electric vehicle maker within striking distance of its all-time high set in November 2021. Alphabet Inc. rallied 4.9% after the tech giant announced the launch of its Willow quantum chip, which boasts an impressive 105 qubits.
While some major tech names rallied, the broader tech sector faced headwinds, particularly semiconductors, which were weighed down by weaker-than-expected earnings, disappointing Chinese trade data and lingering concerns over U.S. trade restrictions and tariffs.
The broader iShares Semiconductor ETF (NASDAQ:SOXX) fell 2.1%, eyeing its worst day since mid November.
The cryptocurrency market took a negative turn, with Bitcoin (CRYPTO: BTC) falling 2.8% to trade below $95,000. This followed a 3.7% decline on Monday, signaling mounting pressure in the digital asset space.
Ethereum (CRYPTO: ETH) plummeted 3.7% after a 7.3% drop on Monday.
Commodities broadly gained. Gold prices rallied 1.3% as investors sought safe-haven assets, while crude oil gained 0.9%.
Tuesday’s Performance In Major US Indices, ETFs
According to Benzinga Pro data:
Tuesday’s Stock Movers
Read Next:
Image created using artificial intelligence via Midjourney.
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
