Tuesday Stock Market Update
The Dow Jones Industrial Average rose, but the S&P 500 and Nasdaq Composite fell on Tuesday.
- The Dow Jones Industrial Average gained 64.35 points or 0.20 percent, to close at 31,522.75.
- The S&P 500 fell 0.06 percent to close at 3,932.59.
- The Nasdaq Composite fell 0.34 percent to close at 14,047.50.
Investors are growing concerned about rising yields on bonds.
“Higher yields, while good for banks, are hitting the bond surrogate sectors like REIT’s, Utilities and Staples,” said Art Hogan, National Securities chief market strategist. “The market can digest rising yields, especially when they are going up for the right reason, but not when they go up in a linear fashion.”
Keep an eye out for:
- US Retail Sales (MoM)
- FOMC Minutes
- Shopify, Kering, Garmin, and Twilio are reporting earnings.