NEW YORK, New York - U.S. stocks fell towards the close on Tuesday with major earnings reports in the wind. Alphabet and Tesla were due to announce quarterly earnings after the closing bell.
"You're looking at a scenario where Big Tech names are going to determine the direction of the market... So, if those names disappoint in any way whatsoever, markets will struggle," Phil Blancato, CEO of Ladenburg Thalmann Asset Management told Reuters Tuesday.
"Their valuations are expensive and we could run into a problem if they don't meet expectations," Blancat said.
The political landscape too has changed across the country as Kamala Harris has edged in front of Donald Trump in the polls, as to her will likely become president.
The Standard and Poor's 500 ended the day at 5,555.72, down by 8.69 points, representing a decrease of 0.16 percent. This decline reflects ongoing uncertainties and market reactions to recent economic data.
The Dow Jones Industrial Average also saw a minor drop Tuesday, closing at 40,358.09, down by 57.35 points or 0.14 percent. The index faced pressure from a mix of corporate earnings reports and economic indicators.
The NASDAQ Composite experienced a modest decline, finishing at 17,997.35, down by 10.22 points or 0.06 percent. Tech stocks, which heavily influence the NASDAQ, showed mixed performance amid varying investor sentiments.
Trading volumes were notable, with the S&P 500 seeing 2.301 billion shares traded, the Dow Jones Industrial Average with 283.963 million shares, and the NASDAQ Composite with 4.403 billion shares.
Global Foreign Exchange Market Tuesday Sees Sees Strong Rebound in U.S. Dollar
On Tuesday, the global foreign exchange market saw the greenback raw back to life. It lost ground however against the Japanese yen which continued its upward trajectory after registering historic lows.
Here's a detailed look at the latest forex rates for Tuesday:
The Euro (EUR) / US Dollar (USD) pair saw a decline, with the euro weakening against the U..S dollar. The pair last traded at 1.0849, down by 0.38 percent.
The US Dollar (USD) / Japanese Yen (JPY) saw the U.S. dollar falling against the Japanese yen. The exchange rate dived to 155.65, marking a hefty decline of 0.86 percent.
In contrast, the US Dollar (USD) / Canadian Dollar (CAD) pair showed a slight increase. The dollar strengthened against the Canadian dollar, with the pair settling around 1.3775, up by 0.13 percent.
The British Pound (GBP) / US Dollar (USD) pair saw a drop, with the British pound weakening to 1.2901, a decrease of 0.24 percent.
The US Dollar (USD) / Swiss Franc (CHF) pair exhibited an upward movement. The U..S dollar strengthened against the Swiss franc, last recorded at 0.8914, up by 0.22 percent.
The Australian Dollar (AUD) / US Dollar (USD) pair faced a decline, with the Australian dollar weakening against the greenback. The pair softened to 0.6613, down by 0.43 percent.
Similarly, the New Zealand Dollar (NZD) / US Dollar (USD) pair experienced a decrease. The New Zealand dollar fell ato 0.5953, down by 0.42 percent.
Global Stock Markets: Mixed Performance on Tuesday
On Tuesday, global stock markets exhibited mixed results, with notable gains in some indices while others faced declines. Here's a detailed overview of the closing quotes for major indices around the world:
CANADA
Canada's S&P/TSX Composite index closed at 22,813.75, down by 58.90 points, marking a decrease of 0.26 percent. The index was influenced by fluctuations in commodity prices and sectoral performances. The S&P/TSX Composite index saw 155.948 million shares traded.
UNITED KINGDOM
The FTSE 100 in London ended the day at 8,167.37, down by 31.41 points, marking a decline of 0.38 percent.
EUROPE
Meanwhile, Germany's DAX PERFORMANCE-INDEX saw a significant rise, closing at 18,557.70, up by 150.63 points or 0.82 percent. France's CAC 40 decreased by 23.39 points, ending at 7,598.63, a drop of 0.31 percent. The ESTX 50 PR.EUR (Euro Stoxx 50) managed to gain 19.36 points, closing at 4,916.80, an increase of 0.40 percent. The Euronext 100 Index slightly dipped by 1.35 points to close at 1,494.50, a marginal fall of 0.09 percent. Belgium's BEL 20 recorded a modest gain of 5.14 points, finishing at 4,038.15, an increase of 0.13 percent.
ASIA
In Asia, Japan's Nikkei 225 remained almost flat, ending at 39,594.39, a slight decrease of 4.61 points or 0.01 percent. Hong Kong's HANG SENG INDEX dropped by 166.52 points to 17,469.36, a decline of 0.94 percent. The SSE Composite Index in Shanghai saw a more significant drop, closing at 2,915.37, down by 48.85 points or 1.65 percent. The Shenzhen Index experienced a substantial fall, losing 263.23 points to end at 8,606.58, a decrease of 2.97 percent. Singapore's STI Index rose by 23.90 points to 3,461.16, up by 0.70 percent.
India's S&P BSE SENSEX ended slightly lower by 73.04 points, closing at 80,429.04, a drop of 0.09 percent. Malaysia's FTSE Bursa Malaysia KLCI improved by 7.61 points to 1,629.68, an increase of 0.47 percent. South Korea's KOSPI Composite Index rose by 10.78 points to close at 2,774.29, an increase of 0.39 percent. Taiwan's TSEC weighted index experienced a notable surge, gaining 614.85 points to finish at 22,871.84, up by 2.76 percent.
OCEANIA
In Australia, the S&P/ASX 200 climbed by 39.40 points, closing at 7,971.10, an increase of 0.50 percent. The ALL ORDINARIES also saw gains, up by 42.20 points to finish at 8,208.60, a rise of 0.52 percent.
New Zealand's S&P/NZX 50 INDEX GROSS jumped by 115.67 points, ending at 12,425.58, up by 0.94 percen.
MIDDLE EAST
Israel's TA-125 index increased by 29.63 points, closing at 2,069.46, a rise of 1.45 percent.
Egypt's EGX 30 Price Return Index ended the day higher by 412.00 points, closing at 29,195.20, an increase of 1.43 percent.
AFRICA
In Africa, South Africa's Top 40 USD Net TRI Index fell by 13.15 points, ending at 4,300.75, a decline of 0.30 percent.
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