U.S. stocks close mixed, Dow Jones drops 93 points

NEW YORK, New York – Investors were wary on Wall Street Tuesday as the Nasdaq Composite and Standard and Poor’s 500 made modest gains, while the Dow Jones index plummeted.

“Today is a bit of the defensive rotation getting overdone,” Phillip Colmar, global strategist at MRB Partners told CNBC Tuesday. “You end up with a lot of volatility as people get back from the summer, because we had markets positioned in a way that was set up for a lot,in the sense that we had high tech flyers and the Fed trying to justify rate cuts.”

The Standard and Poor’s 500 closed up by 24.47 points, or 0.45 percent, ending the day at 5,495.52 with a trading volume of 2.493 billion shares. This rise was driven by gains in the technology and consumer sectors.

However, the Dow Jones Industrial Average (DJIA) experienced a slight decline, losing 92.63 points, or 0.23 percent, to close at 40,736.96, on a volume of 356.011 million shares. The dip in the Dow was attributed to weaker performance from industrial and energy stocks.

The NASDAQ Composite, home to many technology giants, surged by 141.28 points, or 0.84 percent, closing at 17,025.88 with a hefty trading volume of 4.331 billion shares. Tech stocks, especially in the semiconductor and software sectors, led the rally.

U.S. dollar moves modestly ahead Tuesday

In the currency markets, the US Dollar Index saw a slight increase of 0.06 points, or 0.06 percent Tuesday, finishing at 101.61.

The MSCI EUROPE index declined by 14.91 points, or 0.69 percent, ending at 2,136.19.

The British Pound Currency Index added 0.08 points, or 0.06 percent, to close at 130.82, while the Euro Currency Index slipped 0.13 points, or 0.12 percent, to 110.24.

The Japanese Yen Currency Index rose by 0.39 points, or 0.56 percent, to close at 70.25, while the Australian Dollar Currency Index saw a slight decline of 0.06 points, or 0.10 percent, ending at 66.57.

Global Stock Market Summary: Mixed Results Across Major Indices

On Tuesday, stock markets around the world showed a mix of declines and gains as investors reacted to economic data and market developments.

CANADA

Canada’s S&P/TSX Composite Index also saw a slight decline, dropping 24.06 points, or 0.10 percent, to close at 23,003.09, with a trading volume of 292.126 million shares. The Canadian market faced pressure from declining commodity prices, particularly in the energy and materials sectors.

UNITED KINGDOM

The FTSE 100 in the UK closed down by 64.86 points, or 0.78 percent, settling at 8,205.98. Germany’s DAX PERFORMANCE-INDEX experienced a larger drop of 177.64 points, a fall of 0.96 percent, closing at 18,265.92.

France’s CAC 40 also declined, losing 17.71 points, or 0.24 percent, to close at 7,407.55.

The Euro Stoxx 50, a benchmark for the Eurozone, dropped 31.46 points, or 0.66 percent, ending the day at 4,747.20. Meanwhile, the Euronext 100 Index slid 6.76 points, or 0.47 percent, to 1,446.08, while Belgium’s BEL 20 fell by 43.23 points, or 1.02 percent, finishing at 4,197.34.

ASIA

In Asia, the HANG SENG INDEX in Hong Kong bucked the trend, gaining 37.13 points, or 0.22 percent, to close at 17,234.09.

China’s SSE Composite Index gained 7.70 points, or 0.28 percent, closing at 2,744.19, while Japan’s Nikkei 225 edged lower by 56.59 points, or 0.16 percent, to finish at 36,159.16.

Singapore’s STI Index rose by 16.14 points, or 0.46 percent, ending at 3,512.67.

In India, the S&P BSE SENSEX recorded a gain of 361.75 points, or 0.44 percent, closing at 81,921.29, while THE FTSE Bursa Malaysia KLCI in Malaysia rose 8.86 points, or 0.54 percent, to finish at 1,660.35.

South Korea’s KOSPI Composite Index dropped 12.50 points, or 0.49 percent, closing at 2,523.43. Taiwan’s TSEC Weighted Index also fell, losing 80.36 points, or 0.38 percent, to close at 21,064.08. Meanwhile, Israel’s TA-125 dipped by 2.91 points, or 0.14 percent, to end the day at 2,031.07.

OCEANIA

Australia’s markets also performed well, with the S&P/ASX 200 adding 23.80 points, or 0.30 percent, to close at 8,011.90, and the ALL ORDINARIES climbing by 25.10 points, or 0.31 percent, to settle at 8,217.00.

New Zealand’s S&P/NZX 50 index was relatively unchanged, adding 11.20 points, or 0.09 percent, to close at 12,632.82.

MIDDLE EAST

In the Middle East, Egypt’s EGX 30 Price Return Index saw a significant decline, dropping by 270.70 points, or 0.89 percent, to finish at 30,104.30.

AFRICA

South Africa’s Top 40 USD Net TRI Index experienced a minor drop of 0.88 points, or 0.02 percent, closing at 4,437.82.

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