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Stocks are mixed as Wall Street pares losses.

The Elite Times TeamBy No Comments5 Mins Read

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Samsung’s profit warning took the shine off the sector, causing tech stocks’ gains to lose momentum and stocks to break on Tuesday afternoon.

The Dow Jones Industrial Average (^DJI) fell 0.4%, or about 150 points. The benchmark S&P 500 Index (^GSPC) fell 0.1%, and the tech-heavy Nasdaq Composite Index (^IXIC) narrowly turned positive, reversing its slide into negative territory from morning trading.

Samsung’s latest update weighed on hopes for a recovery in the PC and mobile sectors, the main markets for the company’s memory chips. The company said it expects fourth-quarter operating profit to decline 35%, well below expectations, as demand continues to lag.

The Dow Jones Industrial Average on Monday shook off a sharp drop in Boeing (BA) stock due to the failure of its 737 Max 9 planes, with Big Tech contributing to the stock’s rise. Shares of Alaska Airlines (ALK) and United Airlines (UAL) fell slightly on Tuesday even as the airlines said inspections found loose parts.

The main focus for investors remains Thursday’s December consumer inflation rate and what that means for the possibility of a rate cut. But two Fed officials on Monday poured cold water on Wall Street’s already fading hopes that interest rates could be cut in the coming months.

The idea that inflation is cooling is underpinning investors’ belief that the U.S. economy will avoid recession. That belief will face a serious test Friday, when the fourth-quarter earnings season for major banks begins.

Meanwhile, oil prices (CL=F) (BZ=F) rose more than 2%, paring Monday’s nearly 4% decline as investors weighed tensions in the Middle East and the impact of Saudi Arabia’s decision to cut oil prices. I got some back.

live5 updates

  • Stocks were mixed in afternoon trading.

    Tech stocks rebounded in afternoon trading Monday as major indexes reversed early losses, but remained in mixed territory.

    The Dow Jones Industrial Average (^DJI) fell 0.4%, or about 150 points. The benchmark S&P 500 Index (^GSPC) was just below flatline, while the tech-heavy Nasdaq Composite Index (^IXIC) narrowly turned positive, reversing its negative move from morning trading.

  • HPE in talks to acquire Juniper Networks: Report

    Hewlett Packard Enterprise (HPE) is moving to acquire Juniper Networks (JNPR) in a deal worth $13 billion, according to a Wall Street Journal report published Tuesday.

    The proposed acquisition could strengthen HPE’s AI product rollout. In recent months, Wall Street has cheered Big Tech’s AI developments, delivering big profits to software companies and AI suppliers like Nvidia (NVDA) and leading to a wholesale shift of businesses and consumers to AI-powered tools and services. This outlook outperforms the overall market.

    Juniper, based in Sunnyvale, California, is best known for selling communications hardware such as routers and switches. But the company also operates a growing AI business called Mist AI. Juniper says its AI business will enable its customers to run their networks more efficiently. His CEO at Juniper, Rami Rahim, recently told Yahoo Finance Live that his AI division at the company has achieved 100% year-over-year growth over the past two quarters.

    Juniper stock rose more than 20% Tuesday afternoon, while HPE fell 7%.

    The report said a deal could be announced as early as this week.

  • Oil rebounds on signs Russia will honor export cut pledges

    Oil futures rebounded on Tuesday on signs that Russia is adhering to promised export cuts and as protests in Libya continue to limit the country’s output.

    West Texas Intermediate (CL=F) rose more than 1.5% during trading, but has since pared back some of its gains. Brent futures (BZ=F) also rose over 1%, reversing a sharp decline in the previous session.

    The latest crude oil export data tracked by Bloomberg shows Russia started 2024 in line with production cuts promised by OPEC+ members.

    Meanwhile, protests in Libya are forcing around 300,000 barrels a day off the market following the closure of a major oil field last week.

  • Stock prices rise in morning trading

    Here are some of the leading stocks on Yahoo Finance. trend ticker Tuesday trading page:

    Juniper Networks (JNPR): The networking supplier’s stock price rose Tuesday morning following a Wall Street Journal report that revealed Hewlett Packard Enterprise (HPE) is considering acquiring the company in a deal worth $13 billion. rose more than 20%. HPE stock fell more than 8%.

    Jet Blue (JBLU): The company fell more than 6% after Robin Hayes, who led the company for nearly nine years, announced she would step down as CEO. His resignation is significant as the airline awaits a decision on whether a federal judge will block a proposed merger with Spirit Airlines that he supported.

    Unity Software (U): The video game developer’s stock fell nearly 7% after the company announced plans to lay off about 1,800 employees, representing 25% of its workforce.

    Nvidia (NVDA): The AI ​​software and hardware supplier’s stock continued to rise on Tuesday morning, following reports that the company plans to begin mass production of AI chips designed for the Chinese market in compliance with U.S. export regulations. The stock rose 0.3%. The sale of this chip and two others is aimed at preserving the company’s market share in China amid tightening export controls from Washington, Reuters reported.

  • Tech stock rally loses momentum and stock prices begin to fall

    Wall Street opened Tuesday’s session in the red as tech stocks fell.

    The Dow Jones Industrial Average (^DJI) fell 0.5%, or about 200 points. The benchmark S&P 500 Index (^GSPC) fell nearly 0.6%, and the tech-heavy Nasdaq Composite Index (^IXIC) fell about 0.7%.

For the latest stock market news and in-depth analysis of price-moving events, click here.

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