WASHINGTON (dpa-AFX) - Stocks showed a lack of direction throughout much of the trading session on Tuesday but managed to end the day mostly higher. The major averages all moved back to the upside after ending the previous session in negative territory.
The major averages finished the day just off their highs of the session. The Nasdaq advanced 94.98 points or 0.4 percent to 21,544.27, the S&P 500 climbed 26.62 points or 0.4 percent to 6,465.94 and the Dow rose 135.60 points or 0.3 percent at 45,418.07.
The choppy trading seen for most of the day came as traders seemed reluctant to make significant moves ahead of earnings news from Nvidia (NVDA).
The AI darling and market leader, which due to report its second quarter results after the close of trading on Wednesday, ended the day up by 1.1 percent.
The latest U.S. economic data is also likely to attract attention later this week, as the Commerce Department is due to release a report on Friday that includes the Fed's preferred readings on consumer price inflation.
Stocks may have benefitted from a decrease by short-term treasury yields, which came as traders bet President Donald Trump's interference with the Federal Reserve will lead to lower interest rates in the near term.
In a letter posted on Truth Social on Monday, Trump said he is removing Fed Governor Lisa Cook from her position amid accusations she made false statements on one or more mortgage agreements.
However, Cook responded with a statement claiming Trump does not have the authority to fire her and said she will not resign. Cook said she will file a lawsuit challenging her removal, while the Fed said it will 'abide by any court decision.'
Sector News
Airline stocks moved sharply higher over the course of the session, driving the NYSE Arca Airline Index up by 2.3 percent to a six-month closing high.
Substantial strength was also visible among gold stocks, with the NYSE Arca Gold Bugs Index surging by 2.2 percent to a twelve-year closing high amid a modest increase by the price of the precious metal.
Networking stocks also turned in a strong performance on the day, as reflected by the 2.1 percent jump by the NYSE Arca Networking Index.
Banking, pharmaceutical and brokerage stocks also saw notable strength, while oil service stocks moved to the downside amid a sharp pullback by the price of crude oil.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Tuesday. Japan's Nikkei 225 Index slumped by 1.0 percent, while Hong Kong's Hang Seng Index tumbled by 1.2 percent.
The major European markets also moved to the downside on the day. While the French CAC 40 Index plunged by 1.7 percent, the U.K.'s FTSE 100 Index slid by 0.6 percent and the German DAX Index fell by 0.5 percent.
In the bond market, treasuries moved mostly higher over the course of the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, dipped 1.7 basis points to 4.258 percent.
Looking Ahead
Trading activity may remain somewhat subdued on Wednesday ahead of the release of Nvidia's earnings after the close, with a lack of major U.S. economic data also likely to keep some traders on the sidelines.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
