Stock Market Today: Live Updates

Futures prices related to the Nasdaq 100 rose Tuesday night after all three major averages fell sharply.

Nasdaq 100 futures rose 0.2%. S&P 500 futures rose 0.05% and Dow Jones Industrial Average futures rose 2 points, or 0.01%.

In after-hours trading, CrowdStrike soared 25% on the back of higher highs and closes for the latest quarter, as well as a strong full-year outlook. Nordstrom fell 10% after warning of a possible decline in sales in 2024.

This action was taken after the average of three major stocks fell for the second consecutive day. The Dow Jones Industrial Average fell 404.64 points (1.04%). The S&P 500 fell 1.02% and the Nasdaq Composite fell 1.65%.

Investors sold off large tech stocks, widening their losses on Tuesday, making it the tech sector’s worst day since Jan. 2. Apple shares fell nearly 3% following a report from Counterpoint Research that iPhone sales in China fell 24% in the first six weeks of 2024. Microsoft fell nearly 3%, dragging down the overall market.

“The market has been very resilient in the face of mixed news,” said Jay Hatfield, founder and CEO of Infrastructure Capital Advisors. “It’s really just tech stocks crashing and everything else going up, so it’s more of a revolving market than a straight down market,” he added.

Investors will be watching Fed Chairman Jerome Powell’s testimony before the House Financial Services Committee on Wednesday. They will further clarify the central bank’s monetary policy position and look for clues about the pace and timing of rate cuts expected this year.

Central bank leaders are scheduled to speak to the Senate Banking Committee on Thursday.

While the market is likely to react to Powell’s comments, Hatfield doesn’t think Powell’s comments should come as a surprise to investors.

“In a market where the flow of information is limited, it will dominate trading, and that is well foreseen,” he said.