Highlights
Stocks were mixed but mostly higher Tuesday as the market saw more progress toward an end to the government shutdown this week. The Dow Jones industrial average gained 1.2 percent, the S&P 500 rose 0.2 percent, and Nasdaq slipped 0.3 percent. US Treasury yields and oil prices rose while the dollar dipped.
Stocks were broadly higher with defensive sectors leading on news that the Senate had given formal approval to a plan to reopen the government while the House was expected to pass the measure this week. A selloff in Nvidia and Tesla weighed on the Nasdaq though big tech stocks were mostly better. Among sectors, best were apparel, energy, food & beverage, pharma, groceries and home builders. Lagging were airlines, trucking chipmakers, engineering & construction, and cruise lines.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.