US shares open Tuesday’s session with mixed performances

(MENAFN) US stocks opened on a mixed note Tuesday, reflecting varying investor sentiments. The Dow Jones Industrial Average edged up slightly by three points, or 0.01 percent, reaching 38,574 at 9:50 a.m. EDT. In contrast, the S&P 500 declined by 10 points, or 0.2 percent, to 5,273. The Nasdaq Composite also fell, losing 40 points, or 0.24 percent, to 16,788.

Market volatility increased as indicated by the VIX volatility index, commonly referred to as the fear index, which rose by 3.4 percent to 13.56. This rise in volatility suggests heightened market uncertainty. Meanwhile, the yield on the 10-year US Treasury note dropped by 1.2 percent to 4.346 percent, indicating a shift in investor preference towards safer assets.

In the currency markets, the dollar index experienced a modest increase of 0.07 percent, bringing it to 104.22. Concurrently, the euro weakened, falling by 0.3 percent to USD1.0870 against the dollar. This movement in currencies underscores the ongoing adjustments in response to economic data and market expectations.

Precious metals faced significant declines, with gold prices dropping by 1 percent to USD2,326 per ounce and silver prices plunging by 4.1 percent to USD29.48 per ounce. These declines reflect a broader retreat from commodities as investors reassess their risk exposure.

Oil prices also saw a downturn, with global benchmark Brent crude falling around 2 percent to USD76.86 per barrel, and US benchmark West Texas Intermediate decreasing to USD72.75 per barrel. The decline in oil prices highlights concerns over global economic conditions and potential impacts on energy demand.

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