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Barchart
Barchart
Rich Asplund

Stocks Settle Mixed on Tech Weakness and Inflation Pressures

The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.16%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.87%.  June E-mini S&P futures (ESM26) fell -0.16%, and June E-mini Nasdaq futures (NQM26) fell -0.90%.

Stock indexes settled mixed on Tuesday.  The broader market was under pressure amid weakness in technology stocks, following Monday’s rally that pushed the S&P 500 and Nasdaq 100 to new record highs.  The ongoing stalemate in the Middle East between the US and Iran is keeping the Strait of Hormuz closed, weighing on market sentiment, and pushing crude oil prices and bond yields higher.  The 10-year T-note yield rose +5 bp to 4.46%.

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