Stocks have moved mostly higher during trading on Tuesday, adding to the gains posted in the previous session. The Nasdaq and the S&P 500 have climbed firmly into positive territory, although the narrower Dow is bucking the uptrend.
In recent trading, the Nasdaq and the S&P 500 have reached new highs for the session. The Nasdaq is up 220.69 points or 0.9 percent at 23,822.05 and the S&P 500 is up 29.49 points or 0.4 percent at 6,979.72, with the latter on pace to end the session at a record closing high.
Meanwhile, the Dow has moved sharply lower over the course of the session, tumbling 470.26 points or 1.0 percent to 48,942.14.
The strength in the broader markets comes as traders remain optimistic ahead of the release of earnings news from big-name tech companies like Apple (AAPL), Microsoft (MSFT) and Meta Platforms (META).
Shares of Apple are surging by 2.0 percent and shares of Microsoft are jumping by 1.7 percent, although shares of Meta have dipped by 0.3 percent.
Positive sentiment may also have been generated in reaction to upbeat earnings news from big-name companies like General Motors (GM) and UPS (UPS).
On the other hand, a slump by shares of UnitedHealth (UNH) weighing on the Dow, with the health insurance giant plunging by 18.5 percent.
The steep drop by UnitedHealth comes after the company reported slightly better than expected fourth quarter earnings but provided disappointing revenue guidance.
A Trump administration proposal calling for nearly flat rates for Medicare Advantage insurers is also weighing on insurance stocks.
In U.S. economic news, the Conference Board released a report unexpectedly showing a significant deterioration in consumer confidence in the in the month of January.
The Conference Board said its consumer confidence index plummeted to 84.5 in January from an upwardly revised 94.2 in December.
Economists had expected the consumer confidence index to inch up to 90.0 from the 89.1 originally reported for the previous month.
With the steep drop, the consumer confidence index tumbled to its lowest level since hitting 82.2 in May of 2014.
Sector News
Semiconductor stocks have shown a substantial move to the upside on the day, with the Philadelphia Semiconductor Index surging by 2.7 percent. The index is on pace to end the day at a new record closing high.
Computer hardware and networking stocks are also seeing significant strength, contributing to the advance by the tech-heavy Nasdaq.
Outside of the tech sector, oil service stocks are moving notably higher along with the price of crude oil, driving the Philadelphia Oil Service Index up by 1.5 percent.
On the other hand, gold stocks are giving back ground amid a modest pullback by the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 1.3 percent.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Tuesday. Japan’s Nikkei 225 Index advanced by 0.9 percent, Hong Kong’s Hang Seng Index jumped by 1.4 percent and South Korea’s Kospi surged by 2.7 percent.
Most European stocks have also moved to the upside on the day. The U.K.’s FTSE 100 Index is up by 0.5 percent and the French CAC 40 Index is up by 0.3 percent, although the German DAX Index has bucked the uptrend and edged down by 0.1 percent.
In the bond market, treasuries have bounced back near the unchanged line after seeing early weakness. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by less than a basis point at 4.215 percent.
Business News
Nasdaq, S&P 500 Seeing Further Upside But Dow Bucking Uptrend
2026-01-27 15:51:27
