Highlights
Major stock indexes were flat to slightly better Tuesday amid uncertainty and conflicting reports over US-Iran talks and prospects for a tentative settlement. The Dow Jones industrial average rose 0.5 percent while the S&P 500 firmed 0.1 percent and the Nasdaq was flat. WTI crude oil futures and the dollar rose while bond yields were flat to higher.
A selloff in Alphabet after it announced heavy investment spending and losses in Microsoft weighed on the Nasdaq and the S&P 500. That was offset somewhat for the S&P by a rally in Marvell Technology after positive comments on the firm from Jensen Huang of Nvidia. Other chipmakers linked to the AI trade had a good day.
Separately, risk appetite was dampened by Cleveland Fed President Beth Hammack's warning that rates may need to rise and an unexpected rise in job openings for April, suggesting more demand for workers.
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.