In Tuesday’s stock market action, major indexes showed mixed results as the Dow Jones Industrial Average posted a small gain of 0.2%, the S&P 500 was flat, and the Nasdaq saw a 0.2% drop. The small-cap Russell 2000 outperformed the major indexes with a 0.4% increase. Meanwhile, the Invesco QQQ Trust was down 0.5% and the Innovator IBD 50 ETF fell 1.2%. Volume saw an increase on the New York Stock Exchange and a decrease on the Nasdaq compared to the same time the previous day. Additionally, the 10-year Treasury yield dropped 7 basis points to 4.09%.
The market saw mixed action from the “Magnificent Seven” stocks, with Meta Platforms, Nvidia, Alphabet, Apple, Microsoft, Amazon, and Tesla showing varied performance. In other stock market movers, Super Micro Computer reached an all-time high before reversing a 4% lower, GE Healthcare Technologies skyrocketed around 12% following a strong Q4 report, and Ford Motor gained over 3% ahead of its Q4 earnings report. However, warehouse robotic technologies company Symbotic plummeted 24% after posting in-line Q1 results, while Fabrinet dropped nearly 24% despite beating earnings estimates.
Palantir Technologies experienced a surge of over 27% following its Q4 earnings report, while Eli Lilly retreated, and BP rallied 5.9% on the back of upbeat Q4 earnings. Finally, DocuSign announced plans to cut staff and saw a 3% decline, while KKR advanced over 3% after beating Q4 estimates. Ultimately, this mixed performance reflects the uncertainty and volatility in the current stock market landscape.
