The S&P 500 Index ($SPX) (SPY) Tuesday closed down -0.20%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.15%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.24%.
US stocks Tuesday gave up an early advance and posted modest losses. Weakness in chip stocks weighed on the overall market. Also, energy producers fell after crude prices dropped to a 1-1/2 week low. In addition, diabetes device makers retreated, with Insulet and Dexcom closing down more than -6%, on the news that Eli Lilly’s weight-loss drug Zepbound helped cut the risk of diabetes by 94% in obese and pre-diabetic patients. Finally, Boeing closed down more than -4% after it said it paused test flights of its 777X jetliner while it inspects cracks in a crucial structural component, marking the latest setback to certify its largest jetliner.
