(Sharecast News) - Major indices closed lower on Tuesday after starting off the new month with solid gains in the previous session.
At the close, the Dow Jones Industrial Average was down 0.34% at 49.240.99, while the S&P 500 shed 0.84% to 6,917.81 and the Nasdaq Composite saw out the session 1.43% weaker at 23,255.19.
The Dow closed 166.67 points lower on Tuesday, taking a bite out of solid gains recorded in the previous session as investors shrugged off a weekend rout in bitcoin and precious metals.
Most major tech names traded lower on Tuesday, with several of the socalled 'Magnificent Seven' under pressure after recent earnings updates. Microsoft and Meta both slipped more than 2%, while Apple edged down and Nvidia also extended its yeartodate losses with a near3% decline. Weakness across the software sector persisted as Salesforce dropped around 7%.
Precious metals provided a modest lift to sentiment, with spot gold up 6% and silver rising 7% on the session, continuing a trend that has made both among the most popular trades for retail investors this year. Bitcoin, on the other hand, hit its lowest level since November 2024 - just days after it dropped below the $80,000 level for the first time since last April.
Software firm Palantir Technologies was in focus throughout the session after posting strongerthanexpected fourthquarter numbers after the close on Monday, with results buoyed by robust demand from the Trump administration and US firms. Palantir said revenues had jumped 70% yearonyear to $1.4bn, topping the $1.3bn pencilled in by analysts, while adjusted earnings per share rose to $0.25 from $0.14 a year earlier, ahead of forecasts for $0.23.
In terms of Tuesday's earnings, snacks and beverage giant PepsiCo delivered fourth-quarter results that topped market expectations on Tuesday and announced that it will cut the prices of core brands such as Lay's and Doritos in the US by as much as 15% as consecutive quarters of price hikes turned away some consumers, while drugmaker Pfizer revealed it had swung to a net loss of $1.6bn in Q4, down from the net income of $410m reported at the same time a year earlier.
Elsewhere, AMD posted betterthanexpected fourthquarter results after the bell and issued an upbeat outlook for the current quarter, but the stock still slipped in extended trading, while biotech firm Amgen posted Q4 results that came in ahead of expectations on the Street ,driven by increased drug sales and lower taxes.
No major data points were released on Tuesday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Dow Chemical Co. (DOW) $30.59 5.57%
Verizon Communications Inc. (VZ) $46.58 3.68%
Cisco Systems Inc. (CSCO) $83.11 3.06%
Chevron Corp. (CVX) $178.30 2.30%
Merck & Co. Inc. (MRK) $115.80 2.18%
JP Morgan Chase & Co. (JPM) $314.23 2.18%
Coca-Cola Co. (KO) $76.97 2.07%
Caterpillar Inc. (CAT) $700.99 1.73%
3M Co. (MMM) $154.82 1.47%
Procter & Gamble Co. (PG) $155.54 1.39%
Dow Jones - Fallers
Salesforce.Com Inc. (CRM) $196.48 -6.85%
International Business Machines Corporation (CDI) (IBM) $294.02 -6.49%
Microsoft Corp. (MSFT) $411.21 -2.87%
Nike Inc. (NKE) $60.94 -2.01%
Amgen Inc. (AMGN) $338.59 -1.77%
Visa Inc. (V) $330.11 -1.47%
American Express Co. (AXP) $349.36 -0.91%
Goldman Sachs Group Inc. (GS) $937.58 -0.78%
Unitedhealth Group Inc. (UNH) $282.89 -0.49%
Walt Disney Co. (DIS) $103.78 -0.22%
S&P 500 - Risers
DaVita Inc (DVA) $132.91 21.17%
AES Corp. (AES) $15.97 9.23%
Ball Corp (BALL) $61.94 8.96%
Whirlpool Corp. (WHR) $85.29 6.96%
Valero Energy Corp. (VLO) $191.42 6.69%
Freeport-McMoRan Inc (FCX) $64.40 6.44%
LyondellBasell Industries (LYB) $53.63 6.37%
Eastman Chemical Co. (EMN) $75.65 6.18%
Marathon Petroleum Corporation (MPC) $185.55 6.03%
Illinois Tool Works Inc. (ITW) $277.48 5.56%
S&P 500 - Fallers
Gartner Inc. (IT) $156.38 -20.87%
Paypal Holdings Inc (PYPL) $41.70 -20.31%
Expedia Group Inc. (EXPE) $234.46 -15.26%
Equifax Inc. (EFX) $176.57 -12.11%
IQVIA Holdings Inc. (IQV) $204.20 -11.88%
Dxc Technology Company (DXC) $13.73 -11.65%
S&P Global Inc Com (SPGI) $470.26 -11.27%
Omnicom Group Inc. (OMC) $68.36 -11.15%
Pentair plc (PNR) $94.49 -10.16%
Cognizant Technology Solutions Corp. (CTSH) $74.50 -10.14%
Nasdaq 100 - Risers
J.B. Hunt Transport Services Inc. (JBHT) $220.46 4.13%
Cisco Systems Inc. (CSCO) $83.11 3.06%
PACCAR Inc. (PCAR) $127.90 2.64%
American Airlines Group (AAL) $14.01 2.34%
CSX Corp. (CSX) $39.15 1.98%
T-Mobile Us, Inc. (TMUS) $197.68 1.38%
Mondelez International Inc. (MDLZ) $59.47 1.33%
Costco Wholesale Corp. (COST) $977.92 0.99%
Wynn Resorts Ltd. (WYNN) $109.27 0.08%
Tesla Inc (TSLA) $421.96 0.04%
Nasdaq 100 - Fallers
Paypal Holdings Inc (PYPL) $41.70 -20.31%
Expedia Group Inc. (EXPE) $234.46 -15.26%
Cognizant Technology Solutions Corp. (CTSH) $74.50 -10.14%
Cadence Design Systems Inc. (CDNS) $268.50 -7.15%
Workday, Inc. (WDAY) $161.18 -7.04%
Gen Digital Inc. (GEN) $22.45 -5.63%
Paychex Inc. (PAYX) $97.15 -5.19%
Qvc Group Inc Series A (QVCGA) $10.56 -4.52%
Take-Two Interactive Software Inc. (TTWO) $212.17 -4.35%
KLA-Tencor Corp. (KLAC) $1,355.54 -3.89%
26.97 (0.26%)
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