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The Dow Jones Industrial Average briefly turned negative in afternoon trading on Tuesday, with the blue-chip average pressured by weakness in large-capitalization technology stocks. The Dow was flat at 24,202; previously, it rose as high as 24,446.22. The biggest drags on the Dow were Microsoft Corp. , which fell 2.1%, and Apple Inc. , down 1.1%. Both stocks retreated following sharp rallies in the previous session. Apple climbed 4.8% on Monday while Microsoft surged 7.6% in its biggest one-day jump since October 2015. The S&P 500 fell 0.3% while the Nasdaq Composite Index fell 1.3%, pressured by the weakness in tech.
Dow Jones Industrial Average turns negative
The Nasdaq Composite Index fell on Tuesday, dropping to its lows of the session with the technology sector leading the decline. The index fell 1% in afternoon trading, having previously opened in positive territory. The tech sector fell 1.3%, by far the biggest decliner among the 11 primary S&P 500 sectors. Tech stocks were largely pressured by weakness in chipmakers , which fell 1.3%. Facebook Inc. was also a drag on the group; the social-media giant fell 3.3% in the latest bout of weakness driven by a scandal over how it has handled user data. The stock is in a bear market, having dropped more than 20% from an all-time high. The Dow Jones Industrial Average rose 0.1% while the S&P 500 was down 0.3%.
Shares of General Electric Co. jumped on Tuesday, recovering after a spate of weakness that took it to its lowest level since 2009. The stock surged 5.8%; it was on track for its biggest one-day percentage gain since April 2015. The industrial conglomerate was by far the biggest percentage gainer among components of the Dow Jones Industrial Average, however, this comes after a session where it was the only one of the 30 Dow stocks to end negative on the day, despite a massive rally in the overall market. In addition, because the Dow is price-weighted, rather than being organized by the market capitalization of its components, GE's rise had a minimal impact on the overall move of the blue-chip average, as the stock is the cheapest of the 30 by far. GE is coming off three straight days of declines, and it has fallen in eight of the past 11 sessions. Thus far this year, it is down 22%, and it has shed more than half its value over the past 12 months amid a myriad of issues, including weak a profit outlook and a 50% reduction in its dividend. The Dow rose 0.6% on Tuesday while the S&P 500 was up 0.2% and the Nasdaq Composite Index was down 0.5%.
U.S. stocks mostly rose on Tuesday, with equities advancing in a broad rally that saw 10 of the 11 primary S&P 500 sectors higher on the day. The biggest gainers were utilities and telecom, two defensive groups, both of which rose 1.1% on the day. The only declining industry group was technology , which dipped 0.5%, a decline that was largely due to weakness in semiconductor stocks. The day's gains extend a rally that was seen on Monday, when Wall Street surged in its best session since August 2015. All 11 sectors jumped on Monday, with tech the biggest leader. The Dow Jones Industrial Average rose 0.7% while the S&P 500 rose 0.3%. The Nasdaq Composite Index , which is heavily weighted toward technology stocks, fell 0.3%.
Semiconductor stocks fell on Tuesday, pressuring the overall technology sector as chipmakers retreated from their best session in more than two years. The PHLX Semiconductor Index lost 0.8%. On Monday, the index spiked 4.2%, its biggest one-day jump since January 2016. Among the biggest decliners in the industry on Tuesday, Nvidia Corp. fell 4.1% while Advanced Micro Devices was off 2.6%. The two comprised the two largest percentage decliners among components of the Technology Select Sector SPDR ETF , the largest exchange-traded fund to track the tech sector, which fell 0.5%. The weakness in tech pressured the Nasdaq Composite Index , which fell 0.5%. The Dow Jones Industrial Average rose 0.6% and the S&P 500 was up 0.1%. Despite the day's retreat, the semiconductor index remains up 9.2% for 2018.
Apple Inc. unveiled, as expected, an updated iPad at an education event at Chicago's Lane Tech College Prep public high school on Tuesday. Apple's cheaper 9.7-inch iPad will support its Apple Pencil stylus. The new iPad will retail for $329, and at a discounted $299 for schools. It's an effort meant to help Apple fend off Alphabet Inc. unit Google's increasing presence in U.S. schools, where Microsoft tablets also compete. The iPad is also getting an A10 Fusion chip, which Apple claimed will be "more powerful than every [Google] Chromebook." The company said that managed Apple IDs for school use will have 200 gigabytes of storage. Also announced, a cloud-based Schoolwork app will be available in June, allowing teachers to make virtual assignments and track student work, similar to Google Classroom. Apple said Tuesday that iPad's more than 1 million built-in apps, including 200,000 that are education-specific, are key to classroom popularity. Apple is also believed to be working on a new developer framework called ClassKit, the blog 9to5Mac has reported. The code push, plus cheaper hardware, shows a renewed effort from Apple in the education market. Pre-event reporting also suggested that a less-expensive 13-inch Retina MacBook is in the works, for a possible June release, although that was not unveiled at the Tuesday presentation. Apple shares traded higher after the news, last up about 0.7% Tuesday after climbing more than 1%. Shares are up roughly 20% over the past 12 months, while the Dow Jones Industrial Average , of which Apple is a component, has gained 16% in the same time frame.
Nasdaq rises 0.1%
Dow up 160 points or 0.7%; S&P 500 adds 0.4%
U.S. stocks climb to session highs in late-morning trade
Whereas nothing seemed to faze the market in 2017, everything seems to be faze it in 2018.
A stock market selloff deepened on Monday after, led by high-flying technology stocks.
Major stateside stock benchmarks are pacing for a better annual performance than much of the rest of the world, despite a volatile few weeks.
It's quite likely the new chair will see more market volatility during his term than did his predecessor. Janet Yellen's time at the helm was marked by mostly serene markets.
Money is flowing back into stocks, a sign that investors believe the market will keep climbing after the recent selloff.
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Here is a selection of factoids about the market's big decline on Monday.
The Dow Jones Industrial Average briefly fell more than 5% from its record high on Monday morning, a pullback that has historically served as an entry-point for bargain-hunting investors.
The stock market's long stretch of calm was interrupted this week.
President Donald Trump on Friday suggested that his election loss would have sparked a plunge in the stock market that's only ever happened eight times.
The year is just 15 trading sessions old and already the stock market has put in almost a full year's worth of gains.
Barring a massive shock before the closing bell on Monday, the S&P 500 will have had 395 trading days without a decline of 5% or more from a record high
Investors are pouring into the stock market as major indexes extend their monstrous rise.
The Nasdaq Composite Index closed at an inflation-adjusted record for the first time in nearly two decades, passing one of the few elusive milestones during this long bull market.
Boeing Co. isn't the biggest firm in the Dow Jones Industrial Average, a blue chip index that also includes the largest U.S.-listed company by market value, Apple Inc.
The stock market had a blowout start to the year. In just four days, the S&P 500 rose 2.6%, its best week since the end of 2016. That's a good omen for the rest of 2018.
The Dow Jones Industrial Average can thank Boeing Co. for its record-breaking run.
No company is more tied to the Dow Jones Industrial Average than General Electric Co. But the Boston-based conglomerate wasn't much help in the blue-chip index's run to its latest milestone.
After a year in which the S&P 500 rose 19%, Wall Street expectations are for a more modest rise in 2018.
Just because stocks had a banner year in 2017 doesn't mean they have to have a bad year in 2018.
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Key U.S. | Last | Chg | Chg % |
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S&P 500 Index | |||
Russell 2000 Index | |||
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Dow Jones Transportation Average | |||
Dow Jones Utility Average Index | |||
Dow Jones U.S. Total Stock Market Index | |||
NASDAQ 100 Index (NASDAQ Calculation) | |||
S&P 400 Mid Cap Index | |||
NYSE Composite Index | |||
Barron's 400 Index | |||
CBOE Volatility Index | |||
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The Asia Dow Index USD | |||
S&P/ASX 200 Benchmark Index | |||
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Hang Seng Index | |||
S&P BSE Sensex Index | |||
NIKKEI 225 Index | |||
FTSE Straits Times Index | |||
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STOXX Europe 50 Index EUR | |||
STOXX Europe 600 Index EUR | |||
CAC 40 Index | |||
DAX | |||
IBEX 35 Index | |||
FTSE 100 Index GBP | |||
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BOVESPA Index | |||
S&P/TSX Composite Index | |||
IPC Indice de Precios Y Cotizaciones |
Company | Last | Chg | Chg % |
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General Electric Co. | |||
Procter & Gamble Co. | |||
Nike Inc. Cl B | |||
Verizon Communications Inc. | |||
Coca-Cola Co. | |||
Johnson & Johnson | |||
Pfizer Inc. | |||
UnitedHealth Group Inc. | |||
Merck & Co. Inc. | |||
Exxon Mobil Corp. | |||
Chevron Corp. | |||
DowDuPont Inc. | |||
International Business Machines Corp. | |||
Home Depot Inc. | |||
American Express Co. | |||
McDonald's Corp. | |||
Travelers Cos. Inc. | |||
United Technologies Corp. | |||
Boeing Co. | |||
Walt Disney Co. | |||
JPMorgan Chase & Co. | |||
3M Co. | |||
Caterpillar Inc. | |||
Intel Corp. | |||
Walmart Inc. | |||
Goldman Sachs Group Inc. | |||
VISA Inc. Cl A | |||
Cisco Systems Inc. | |||
Apple Inc. | |||
Microsoft Corp. |