Stocks Ease Ahead Of Wednesday’s Key Events, Apple Jumps To Record Highs, Bitcoin Tumbles To $66,500: What’s Driving Markets Tuesday?

Stocks Relax Ahead of Wednesday’s Major Events, Apple Jumps to Record Highs, Bitcoin Drops to $66,500: What’s Driving Markets on Tuesday?

Wall Street traded slightly in the red on Tuesday morning as markets maintained a cautious tone ahead of the inflation report and Wednesday’s Federal Open Market Committee (FOMC) meeting.

The S&P 500 fell 0.2% at 12:55 a.m. New York time, its worst daily performance month-to-date.

Despite the overall decline in the market, the tech-heavy Nasdaq 100 index avoided losses, supported by a strong rise in Apple Inc. (NASDAQ:AAPL). The Cupertino-based iPhone maker rose 5.9%, reflecting last month’s post-earnings reaction, driven by bullish notes from analysts following Tuesday’s WWDC event.

Dow Jones major stocks fell 0.7%, while smaller-cap stocks fell 1%. Treasury yields showed little movement; The 10-year benchmark bond remained stable at 4.46% yield.

Commodities softened overall; While gold and silver fell by 0.2% and 1.9%, respectively, West Texas Intermediate (WTI) crude oil remained stable at $77 per barrel.

Bitcoin (CRYPTO: BTC) fell over 4% to $66,500, its lowest performance of the day and its worst daily performance since late April.

Tuesday’s Performance in Major US Indices and ETFs

Major Indices

Price

1 day %change

Nasdaq 100

19,076.80

0.0%

S&P 500

5,348.59

-0.2%

Dow Jones

38,578.53

-0.7%

Russell 2000

2,018.79

-1.0%

Updated at 12:55 ET

According to Benzinga Pro data:

SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.3% to $534.10.

SPDR Dow Jones Industrial Average (NYSE:DIA) fell 0.7% to $386.43.

Tech-heavy Invesco QQQ Trust (ARCA: QQQ) was steady at $464.60.

By sector, the Technology Select Sector SPDR Fund (NYSE:

Tuesday’s Stock Carriers

FMC Corp. (NYSE:FMC) rose 3.5% after Pierre Brondeau returned as president and chief executive officer.

NextEra Energy Inc. (NYSE:NEE) fell 6.7%, its worst daily performance since October 2023, after the company issued weaker guidance.

State Street Corp. (NYSE:STT) and BlackRock Inc. (NYSE:BLK) fell 4.5% and 1.7%, respectively, after Reuters said a U.S. congressional committee would accuse the biggest Wall Street firms of colluding on climate issues.

Affirm Holdings Inc. (NASDAQ:AFRM) is up more than 8% after Apple announced later this year that the company is integrating its products into Apple Pay.

DXC Technology Company (NYSE:DXC) rose 11.5% on buying interest from Apollo Global Management and Kyndryl Holdings

Now read: Approval Soars After Apple Partnership Announcement: What It Means for Users

The story continues

Image created using artificial intelligence via Midjourney.

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