S&P Wavers First Thing Tuesday
(MENAFN- Baystreet)
Advertisment
Stocks traded lower on Tuesday, giving up an earlier gain, as a move higher in Treasury yields raised questions about the possibility of federal Reserve rate cuts later this year.
The Dow Jones Industrials gained 36.27 points to 42,742.83.
The S&P 500 backpedaled 11.87 points to 5,963.51.
The nasdaq Composite tumbled 126.83 to 19,738.10.
Shares of Nvidia dipped more than 2%, taking back earlier gains after the company on Monday unveiled new chips for desktop and laptop PCs that use the same Blackwell architecture. The chipmaker had closed at a record level in the previous session. Tesla slipped nearly 3% after Bank of America downgraded the electric vehicle maker given its high valuation and risks associated with its strategy.
Prices for the 10-year Treasury dropped sharply, raising yields to 4.68% from Monday's 4.61 %. Treasury prices and yields move in opposite directions.
Oil prices surged 57 cents to $74.13 U.S. a barrel.
Prices for gold revived $13.40 an ounce to $2,660.80 U.S.
MENAFN08012025000212011056ID1109068300
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.