Highlights
Stock indexes were mixed with most stocks higher on Tuesday with support from lower oil prices and interest rates while worries about the AI trade held the Nasdaq in check. The Dow Jones industrial average jumped 1.0 percent, the S&P rose 0.3 percent, and the Nasdaq was flat. Bond yields, the dollar, and WTI oil prices declined. Rates were pushed lower by an unexpectedly weak housing starts and pending home sales data.
Best performers included cyclicals and defensive plays. Among the better sectors were homebuilders, banks, small caps, consumer staples, media, and telecom. Energy lagged along with discount retailers, engineering & construction, and
The AI trade was hurt after Elice, a South Korean data center stock, dropped in its trading debut in Seoul. Earnings news is in focus as the market waits for results later Tuesday from Spacex and Netflix, plus Meta and Tesla on Wednesday.