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U.S. stocks end mixed Tuesday on Russia-Ukraine escalation


Lola Evans
19 Nov 2024

NEW YORK, New York - Industrial stocks fell Tuesday while technology shares, particularly Nvidia which rose 4.89 percent, made good ground. Trump Media on the other hand closed 8.88 percent lower.

"The underlying trend for the market is positive," Keith Lerner, Truist's co-chief investment officer told CNBC Tuesday. "The geopolitical stuff, that's certainly a risk, but you're seeing some modest selling. I'm not seeing panic. It's more of a digestion of the recent gains."

An escalation in the Ukraine-Russia war unsettled some investors particularly when Russia indicated a change in its military doctrine to allow for a nuclear strike, after Ukraine struck Russian territory with U.S.-supplied ATACMS missiles, as the war marked its 1,000th day.

"Rising geopolitical tensions has been and continues to be a risk for markets," Gaurav Mallik, chief investment officer at Pallas Capital Advisors told CNBC Tuesday. "The combination of Russia ratcheting up its war rhetoric and uncertainty about how the incoming U.S. presidential administration will respond, is a recipe for stock market volatility."

"The biggest takeaway today is caution around what's going on in Ukraine. Largely investors are hiding out in some of the megacap names, which is a little bit surprising ahead of Nvidia earnings. But they are highly liquid," Timothy Chubb, chief investment officer at Girard, a Univest Wealth Division told Reuters Tuesday.

Here's how the major indices in the U.S. fared Tuesday:

The Standard and Poor's 500 gained 23.36 points, or 0.40 percent, to finish at 5,916.98, driven by robust gains in tech and consumer discretionary stocks.

The Dow Jones Industrial Average, however, fell by 120.66 points, or 0.28 percent, to close at 43,268.94, as losses in industrial and healthcare sectors weighed on the index.

In contrast, the NASDAQ Composite surged 195.66 points, or 1.04 percent, to end at 18,987.47, as major tech companies continued to see investor interest amid optimism around earnings and growth prospects. The tech-heavy index recorded strong volume, with 6.603 billion shares traded.

Foreign Exchange Markets See Mixed Movements Amid Slight Dip in U.S. Dollar

On Tuesday, the global foreign exchange markets experienced a range of fluctuations as investors weighed economic data and assessed potential central bank moves.

The US Dollar Index edged down 0.09 points, or 0.08 percent, to 106.19.

The Euro edged slightly lower, with the EUR/USD pair trading at 1.0594, a decrease of 0.02 percent.

Meanwhile, the US dollar showed a minor gain against the Japanese yen, as the USD/JPY pair inched up by 0.03 percent to 154.69.

The greenback also weakened against the Canadian dollar, with the USD/CAD pair falling by 0.34 percent to 1.3966.

Conversely, the British pound saw a small increase against the dollar, with GBP/USD trading at 1.2681, up 0.03 percent.

Against the Swiss franc, the US dollar slipped, as the USD/CHF pair dipped by 0.03 percent to 0.8823.

In the commodities-linked currencies, the Australian dollar rose significantly against the US dollar, with the AUD/USD pair climbing 0.36 percent to 0.6530.

Similarly, the New Zealand dollar strengthened, with the NZD/USD pair increasing by 0.31 percent to 0.5910.

Global Stock Markets Close Mixed as Investors Weigh Economic Signals

On Tuesday, global stock markets showed a mixed performance as investors digested economic indicators and awaited further developments in the financial landscape.

CANADA

Canada's S&P/TSX Composite Index posted a modest gain, rising 33.83 points, or 0.14 percent, to settle at 25,010.77. Gains in the energy and financial sectors provided support, although concerns over commodity price volatility kept gains in check.

UNITED KINGDOM

The FTSE 100 in London fell by 10.30 points, or 0.13 percent, to end at 8,099.02.

EUROPE

Germany's DAX P slipped 128.88 points, or 0.67 percent, to finish at 19,060.31.

Meanwhile, in France the CAC 40 dropped 48.59 points, or 0.67 percent, closing at 7,229.64.

The EURO STOXX 50 Index lost 39.10 points, or 0.82 percent, ending at 4,751.23, while the Euronext 100 Index was down 7.85 points, or 0.55 percent, at 1,430.32.

Belgium's BEL 20 decreased by 37.10 points, or 0.89 percent, to close at 4,116.40.

ASIA

In Asia, markets saw more positive outcomes. The Hang Seng Index in Hong Kong added 87.06 points, or 0.44 percent, finishing at 19,663.67.

In China, the SSE Composite Index rose by 22.16 points, or 0.67 percent, to close at 3,346.01.

Japan's Nikkei 225 climbed 193.58 points, or 0.51 percent, ending at 38,414.43.

In Singapore the STI Index rose 25.42 points, or 0.68 percent, to 3,757.97.

In India, the S&P BSE SENSEX rose 239.38 points, or 0.31 percent, to end at 77,578.38.

The FTSE Bursa Malaysia KLCI, however, declined slightly by 1.70 points, or 0.11 percent, to 1,602.34.

South Korea's KOSPI Composite Index edged up 2.88 points, or 0.12 percent, to 2,471.95.

In Taiwan the TSEC weighted index saw a significant gain of 302.26 points, or 1.34 percent, closing at 22,848.80.

OCEANIA

Australia's S&P/ASX 200 gained 73.80 points, or 0.89 percent, closing at 8,374.00, and the Australian ALL ORDINARIES climbed 74.80 points, or 0.87 percent, to 8,629.20.

New Zealand's S&P/NZX 50 Index increased by 51.67 points, or 0.40 percent, to close at 12,816.32.

MIDDLE EAST

In Israel the TA-125 increased by 5.16 points, or 0.23 percent, to end at 2,284.69.

The EGX 30 Price Return Index in Egypt dropped by 176.00 points, or 0.57 percent, to close at 30,688.30.

AFRICA

South Africa's Top 40 USD Net TRI Index gained a modest 1.08 points, or 0.02 percent, finishing at 4,547.12.

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