close
close
Stock market today: live updates

Stock market today: live updates

1 minute, 25 seconds Read

Traders work on the floor of the New York Stock Exchange during morning trading in New York City.

Michael M. Santiago | Getty Images

The S&P 500 was flat on Tuesday as investors prepared for key corporate earnings releases, including reports from big-name technology companies.

The broad market index hovered just above the flatline during the Dow Jones Industrial Average traded 65 points lower, or 0.2%. The Nasdaq Composite exceeded with an increase of 0.3%.

alphabet, Snap, Reddit, Chipotle And Advanced micro devices They will all release their quarterly results after the market closes. Tech juggernauts Metaplatforms And Microsoft are due to report on Wednesday Apple is online on Thursday.

Ahead of their earnings release, shares of Meta and Alphabet rose more than 1% on Tuesday.

“It's an expensive market right now, and so I think investors need accelerating earnings growth to justify these higher P/E ratios,” said Sam Stovall, chief investment strategist at CFRA Research.

This will be the busiest week of earnings season as more than 150 S&P 500 companies are expected to have reported results by Friday's close.

Traders also continued to keep an eye on Treasury yields as the benchmark 10-year Treasury yield rose to its highest level since July.

BTIG's Jonathan Krinsky believes the market is in for more near-term unrest with just five trading days remaining until the US presidential election.

“While we do not expect a bear market, we continue to believe that we are in for some downside volatility in the coming weeks,” Krinsky wrote in a note.

The major average players have had a successful session. Notably, the blue-chip Dow index broke a five-day losing streak, while the tech-heavy Nasdaq posted its eighth positive move in the last nine sessions.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *