US Stock Market Today: S&P 500, Dow Jones Open Little Changed As Wall Street Digests A Slew Of Earnings
US stock markets opened mixed on Tuesday, with the tech-heavy Nasdaq Composite surging on strong corporate earnings while the Dow Jones Industrial Average edged lower, as participants saw both corporate strength and persistent macroeconomic fears that needed to be weighed.
The Dow Jones Industrial Average was up 45 points, or 0.1%. While the S&P 500 slipped 0.1%, and the Nasdaq Composite was down 0.2%. The benchmark S&P 500 hovered near the flatline in early trading, consolidating Monday’s gains.
The S&P 500 hovered near the flatline, and the Dow dipped slightly by 0.1%, weighed down by rate-sensitive and cyclical stocks. The primary fuel for the morning action came from the AI boom narrative. Shares of the AI bellwether Apex Computing jumped 5% following a blockbuster quarterly report released after Monday’s close, which crushed expectations for cloud services and artificial intelligence revenue growth.
This conflicting dynamic drove sharp sector rotation at the open. While Tech and Communications Services led the advance, Utilities and Real Estate lagged heavily. Industrials also struggled, suffering from weaker-than-expected factory output data released pre-market, according to reports.
A strong start to the earnings season appears to be holding the broader market rally, specifically amid an economic data blackout due to the government shutdown. For now, the market seems to be locked in a divergent pattern, suggesting a choppy trading day ahead.
Gold slid the most in four years, with technical indicators looking stretched while US-China tensions ease.
Bullion fell by as much as 3.8%, after hitting a fresh peak of $4,381.52 an ounce on Monday. The broader market remains cautious. Oil prices remained higher for a third consecutive session, renewing inflation fears that could compel the Federal Reserve to maintain a “higher for longer” interest rate stance.
This worry has dampened sentiment in cyclically exposed and interest-rate-sensitive sectors. Adding to the pressure, the 10-year Treasury yield moved marginally higher, making non-yielding equities comparatively less attractive.