Nasdaq up ~0.8%, S&P 500 modestly green, Dow dips
Cons Disc leads S&P 500 sector gainers; Healthcare weakest group
Euro STOXX 600 index off ~0.9%
Dollar declines; gold, crude both up >1%; bitcoin up >2%
U.S. 10-Year Treasury yield rises to ~4.24%
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U.S. STOCKS MIXED, BUT TRYING TO HOLD THE LINE
Wall Street's main indexes are mixed shortly after the open on Tuesday following sharp losses on Wall Street in the previous session, while disappointing forecasts from Kohl's KSS.N and Delta DAL.N stoked more worries about a slowing economy.
With this the SPDR S&P 500 retail ETF XRT.P is now off more than 1% on the day, while the U.S. global jets ETF JETS.P is rising nearly 1%.
In any event, as stands, the S&P 500 index .SPX is now down 8.6% from its February record closing high, while the Dow .DJI is off 7.5% from its December 4 record close. The Nasdaq .IXIC is trading down 12.9% from its December 16 record closing high.
Meanwhile, SPX, which is now around 5,620, has support at Monday's low at 5,564.02 and the 61.8% Fibonacci retracement of the August 2024-February 2025 advance at 5,512.02.
An initial hurdle zone resides in the 5,633.35-5,666.29 area.
On the economic data front, January JOLTS job openings is due to be released at 10:00 a.m. EST. The expectation is 7.63M vs last month's read of 7.60M last month.
Here is a snapshot of where markets stood around 15 minutes into Tuesday's session:
(Terence Gabriel)
*****
FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:
NASDAQ COMPOSITE AND THE SEARCH FOR A TRADABLE LOW - CLICK HERE
"THE WORLD HAS TOO MUCH AMERICA IN ITS PORTFOLIO" - KAIROS - CLICK HERE
RECESSION? WHAT RECESSION? - CLICK HERE
EUROPE MOSTLY HIGHER, DEFENCE LEADS, TRAVEL LAGS - CLICK HERE
EUROPE BEFORE THE BELL: STOCKS SEEN OPENING SLIGHTLY HIGHER - CLICK HERE
TARIFFS TOPPLE STOCKS, NO SIGN OF 'TRUMP PUT' - CLICK HERE
EarlyTrade03112025 https://tmsnrt.rs/41UP4d3
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
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