U.S. stocks struggled on Tuesday, with the S&P 500 and the Nasdaq touching one-month lows as a dour consumer confidence report put mounting economic uncertainties into sharp relief.

Market Snapshot

The Dow Jones Industrial Average rose 159.95 points, or 0.37%, to 43,621.16, the S&P 500 lost 28.00 points, or 0.47%, to 5,955.25 and the Nasdaq Composite lost 260.54 points, or 1.35%, to 19,026.39.

Market Movers

SUPER MICRO COMPUTER INC was down 12%. The maker of servers for artificial intelligence has until Tuesday to file its accounts for the year ended June 30, and fiscal first quarter ended Sept. 30, or risk being delisted by the Nasdaq stock exchange. The company had said earlier this month it was working “diligently” to meet the deadline. 

Tesla Motors declined 8.4% to $302.80, putting Tesla’s market value below $1 trillion. The company’s sales picture in Europe has been weakening. Tesla sold 9,945 cars, down 45% year over year, in January, according to the European Automobile Manufacturers’ Association.

Shares of Palantir Technologies Inc. were down 3.1% after the data analytics company fell nearly 11% on Tuesday. The stock has declined for five consecutive sessions. A worry for investors has been whether cuts to U.S. military spending could affect Palantir’s earnings. The company has several military contracts for the use of its artificial-intelligence technology. Coming into Tuesday, Palantir shares had gained 15% this year.

Home Depot reported fourth-quarter adjusted earnings of $3.13 a share on sales of $39.7 billion. Analysts expected the home-improvement company to post a profit of $3.04 a share on sales of $39.2 billion. Same-store sales rose 0.8%, better than estimates that called for same-store sales to fall by 1.5% year over year. For the fiscal year, Home Depot said it anticipates sales to increase by 2.8% and comparable-store sales to rise about 1%. The company said adjusted per-share earnings in the current fiscal year will decline about 2% from the prior year. The stock rose 2.8%.

Zoom declined 8.5% after the videoconferencing company issued a disappointing fiscal first-quarter outlook, saying it expects first-quarter revenue of between $1.16 billion and $1.17 billion, missing analysts’ consensus of $1.18 billion. Full-year revenue was forecast at between $4.79 billion and $4.8 billion, missing Wall Street expectations of $4.81 billion.

Fourth-quarter revenue at Hims & Hers Health Inc. jumped to $481.1 million from $246.6 million a year earlier, getting a boost from demand for the telehealth-consultation platform’s weight-loss offerings. The company said revenue for the year surged 69% to $1.48 billion. Revenue excluding the company’s GLP-1 treatment increased 43% to $1.2 billion in 2024. For the first quarter of 2025, Hims projected revenue of $520 million to $540 million, and adjusted operating earnings of $55 million to $65 million. The stock, however, was down 22%, extending losses from last week after the Food and Drug Administration determined that a shortage of the popular weight-loss drugs Wegovy and Ozempic had been resolved.

Coinbase Global, Inc. fell 6.4%, Strategy dropped 11%, and Robinhood fell 8% as the crypto-related stocks followed Bitcoin lower. The world’s largest cryptocurrency has declined 6.3% over the past 24 hours to $87,929.

Eli Lilly rose 2.3% after the pharmaceutical company said it would sell higher doses of its blockbuster weight-loss drug Zepbound for cheaper to customers paying out of pocket. Lilly is selling the new single-dose vials through its direct-to-consumer website, LillyDirect. Qualifying patients can purchase 7.5 mg or 10 mg doses for $499 a month, down from $599 and $699, respectively.

Tempus AI, the health technology company, posted a fourth-quarter loss of $13 million, narrower than its year-earlier loss of $50.5 million. On an adjusted basis, the loss in the period was 18 cents a share. Revenue in the quarter rose 36% to $200.7 million but came up short of forecasts of $203.1 million. The company said it anticipates revenue in 2025 of $1.24 billion, up from $693.4 million in 2024. Shares slumped 15%.

PayPal was down 1.6% after the fintech company said at its Investor Day that it expectshigh single-digit growth in transaction margin dollars by 2027, with hopes for 10% growth and above in the longer term. It also anticipates adjusted earnings-per share growth in the low teens and above by 2027.

Chinese ADRs rallied. Li Auto up 13% after unveiling the new i8 electric SUV; XPeng up 5%, and Alibaba up 4%.

Market News

Trump Says Zelenskyy Meeting on Deck as U.S.-Ukraine Reach Tentative Minerals Deal

U.S. President Donald Trump said Tuesday he expects to meet with Ukraine President Volodymyr Zelenskyy in Washington this week, as the countries reportedly finalize a deal allowing the U.S. to access to Ukrainian minerals.

Zelenskyy wants to travel to Washington to meet Trump, Trump told reporters on Tuesday. “I hear that [Zelenskyy is] coming on Friday. Certainly it’s OK with me if he’d like to,” Trump said, signaling the two may then sign off on a minerals deal.

Nvidia, Intel Shares Dip as US Pursues Tighter Chinese Chip Sanctions: Report

NVIDIA, Intel and a host of other semiconductor stocks trended down on Tuesday following a report by Bloomberg that the U.S. Department of Commerce is pursuing tighter sanctions to curb China's ability to produce more powerful chips.

Nvidia shares slid nearly 3% while Intel declined 5% on Tuesday. Advanced Micro Devices had dropped 4%. Micron Technology edged 2% lower.