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Traders work on the floor of the New York Stock Exchange.
new york stock exchange
U.S. stocks fell on Tuesday, resuming the 2024 struggle.
of Dow Jones Industrial Average Lost 223 points (0.6%).of S&P500 down 0.3%, Nasdaq Composite It returned more than 0.1%.
Several tech companies were in the red on Tuesday, reversing the sector’s stunning gains seen on Monday. unity software Shares fell 7.6% after the company announced it would lay off about 25% of its employees. Netflix Citi’s stock price fell by less than 1% following the downgrade. apple The stock price also fell by about 0.8%. tesla It fell more than 2.5%.
On a more positive note, the Wall Street Journal reported on Tuesday that Hewlett Packard Enterprise could announce a deal to buy the networking hardware company for about $13 billion as soon as this week. Juniper Networks stock soared more than 21%.
The biggest winning sector in the S&P 500 was Healthcare, up 0.33%.
“We’re moving away from Big Tech, and we’re moving into deeper parts of the market that have traditionally been unloved but really unloved…For example, we’re seeing more buyers interested in healthcare. ” said the head of LPL Financial. Quincy Crosby, a world-renowned strategist. “Yesterday’s expansion also included the Russell 2000, which is helping the tone of the market.”
The move comes after strong trading in the stock market.of S&P500 And that Nasdaq Composite Stock prices rose on Monday as large tech stocks rebounded from last week’s declines. Nvidia It has reached an all-time high.
Later this week, investors will analyze two major inflation indicators to get clarity on the path ahead for the Federal Reserve’s interest rate cuts. The consumer price index for December will be released on Thursday, followed by the producer price index on Friday.
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