Trading was slow on Wall Street, with all major indexes showing minimal movement around midday in New York. The latest producer inflation numbers sent mixed signals ahead of the release of the much-awaited consumer inflation report on Wednesday.
Fed Chairman Jerome Powell He reiterated his expectation that U.S. monetary policy will maintain current interest rates for a longer period of time than previously expected, dispelling concerns about another rate hike.
president joe biden It announced significant tariffs on imports from China, imposing 25% tariffs on steel and aluminum, 100% on Chinese-made electric vehicles, 25% on EV batteries, and 50% on semiconductors from China.
US dollar index (DXY), Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) fell 0.2%, reacting negatively to the producer inflation measure and Chairman Powell's comments.
U.S. Treasury yields edged lower as traders maintained their expectations that the Fed would cut rates twice by the end of the year.
Major indexes such as the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 traded almost flat on the day.
Small stocks are iShares Russell 2000 ETF (NYSE:IWM) rose 0.8% and is on track to close at its highest since early April.
Meme stocks continue to be strong; gamestop company. (NYSE:GME) and AMC Entertainment Holdings Co., Ltd. (NYSE:AMC) rose 22% and 18%, respectively.
In commodity markets, gold rose 0.8% on concerns that some OPEC+ countries want to increase production, while oil prices fell 1.4%.
Bitcoin (Cryptocurrency: BTC) fell 2.5% to $61,400.
Tuesday's performance of major US indexes and ETFs
|
Major index |
price |
1 day %chg |
|
russell 2000 |
2,082.41 |
0.8% |
|
Nasdaq 100 |
18,200.03 |
0.0% |
|
dow jones |
39,393.40 |
-0.1% |
|
S&P500 |
5,215.80 |
-0.1% |
Updated as of 1:12 p.m. EDT
of SPDR S&P 500 ETF Trust (NYSE:SPY) was flat at $520.94. SPDR Dow Jones Industrial Average (NYSE:DIA) was flat at $394.37, a tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) rose 0.1% to $443.41, according to data from Benzinga Pro.
By sector, Real Estate Select Sector SPDR Fund (NYSE:XLRE) outperformed, rising 0.5%.of Daily necessities Sector Selection SPDR Fund (NYSE:XLP) was a big laggard, dropping 0.6%.
tuesday stock mover
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shares of Insulette Co., Ltd. (NASDAQ:PODD) rose 4.6% on Tuesday, even as short seller Blue Orca Capital announced it had taken a short position in the company's stock.
-
Plug Power Co., Ltd. (NASDAQ:PLUG) soared more than 20% after announcing it had secured $1.66 billion in government financing to support clean hydrogen projects, the stock's biggest one-day jump in seven years. It was a huge rise.
-
Sunpower Co., Ltd. (NASDAQ:SPWR) rose 44%, driven by the meme stock craze.
-
Delcas Systems Co., Ltd. (NASDAQ:DCTH) rose more than 30% following the company's quarterly results.
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Other stocks that reacted to the results were: Home Depot Co., Ltd. (NYSE:HD), down 1.1%. Regarding holding of AG (NYSE:ONON), up 18%. international gaming technology (NYSE:IGT) up 2.5%; Navios Maritime Partners LP (NYSE:NMM) fell 6%.
Read now: Expect interest rate cuts, not recession: Fund managers are most bullish on stocks in two years
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This Article Wall Street Trades Flat on Mixed Producer Inflation; Meme Stocks Rout, Bitcoin Drops: What Will Move Markets on Tuesday?He originally appeared on Benzinga.com
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