Stocks Settle Again by Noon
Stocks fell on Tuesday, as the market struggled to rebound from Monday’s steep declines that pushed the SP 500 back into bear market territory and traders braced for a key monetary policy announcement from the Federal Reserve. The Dow Jones Industrials fell 113.26 points to 30,403.52. The SP 500 dipped 1.48 points to 3,748.15. The NASDAQ Composite moved higher 56.69 points to 10,868.80. Shares of Oracle jumped more than 8% after the software company reported an earnings beat boosted by a “major increase in demand” in its infrastructure cloud business while FedEx shares soared 13% after announcing it would add three new directors to its board. The stock was on pace for its best day in more than 20 years. Chevron and McDonald’s rose about 2% and 1%, respectively, paring back some of the Dow’s losses. The energy sector jumped 2%, boosted by shares of Occidental Petroleum and Phillips 66, which each rose more than 5%. Dow Transports also inched 2% buoyed by gains from FedEx and CH Robinson and was on pace for its best day since March.
Stocks Settle Again by Noon
Stocks fell on Tuesday, as the market struggled to rebound from Monday’s steep declines that pushed the SP 500 back into bear market territory and traders braced for a key monetary policy announcement from the Federal Reserve. The Dow Jones Industrials fell 113.26 points to 30,403.52. The SP 500 dipped 1.48 points to 3,748.15. The NASDAQ Composite moved higher 56.69 points to 10,868.80. Shares of Oracle jumped more than 8% after the software company reported an earnings beat boosted by a “major increase in demand” in its infrastructure cloud business while FedEx shares soared 13% after announcing it would add three new directors to its board. The stock was on pace for its best day in more than 20 years. Chevron and McDonald’s rose about 2% and 1%, respectively, paring back some of the Dow’s losses. The energy sector jumped 2%, boosted by shares of Occidental Petroleum and Phillips 66, which each rose more than 5%. Dow Transports also inched 2% buoyed by gains from FedEx and CH Robinson and was on pace for its best day since March.