The momentum on Wall Street during Tuesday’s session continues to lack strength as investors carefully scrutinize the most recent economic data. Moody’s decision to lower China’s credit rating outlook from stable to negative also weighed on risk propensity.
While service activity showed a better-than-expected uptick in November, October’s job openings fell substantially, marking notable underperformance compared to earlier predictions.
The dollar is trending higher, up 0.3%. U.S. Treasuries also soared, with the popular iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) rallying 2%.
Gold and silver fell further, down 0.5% and 1.5% respectively, weighed on by a stronger greenback.
Equities experienced declines, with the exception of the technology and discretionary sectors, which remained resilient.
Bitcoin (CRYPTO: BTC) made a strong move, surging 3.7% to exceed the $43,000 mark, driven by escalating rumors suggesting that Qatar’s sovereign wealth fund is considering a substantial investment of up to half a trillion dollars in Bitcoin.
Tuesday’s US Stock Index Performance
Chart Of The Day: Bitcoin Reaches 19-Month High
Sector, Industry ETF Performance
The Technology Select Sector SPDR Fund (NYSE:XLK) and the Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) managed to post minor gains.
All other S&P 500 sectors traded in the red, with the the Materials Select Sector SPDR Fund (NYSE:XLB) and the Energy Select Sector SPDR Fund (NYSE:XLE) suffering the largest declines, down 1.3% and 1.2%, respectively.
Looking at specific industries, retail stocks, as tracked by the SPDR Retail ETF (NYSE:XRT) fell by 2.5%, followed by SPDR Metals & Mining ETF (ARCA: XME, down 2%.
Stocks In Focus
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