The S&P 500 and Nasdaq indexes ended higher on Tuesday, with strong stock growth rising after a sell-off the day before when Treasury facing yields fell.
Shares of banks fell along with yields.
The benchmark yield on 10-year bonds fell from a more than three-year high to below 3%.
The Dow also ended lower, and day trading was volatile, with major indexes shifting between gains and losses as investors worried about the release on Wednesday of the U.S. Consumer Price Index and Producer Price Data on Thursday.
Investors will look for signs that inflation is reaching a peak.
Concerns that the U.S. Federal Reserve may have to act more aggressively to curb inflation have sparked a recent sell-off in the market.
Many other problems were added to the pressure. “It’s just a fear-based sale,” said Jake Dollarhead, chief executive of Longbow Asset Management in Tulsa, Oklahoma.
“It can’t just be for the Fed to raise rates to prevent inflation because we’ve seen it before,” he said.
Instead, investors worried about everything from rates and inflation to the war in Ukraine, supply chain problems and blockades in China related to COVID-19, Dollarhead said.
Shares of Apple Inc rose 1.6%, giving the S&P 500 and Nasdaq the biggest growth.
The Dow Jones industrial average fell 84.96 points, or 0.26%, to 32,160.74, the S&P 500 rose 9.81 points, or 0.25%, to 4,001.05, and the Nasdaq Composite added 114. 42 points, or 0.178.7%
Technology and growth stocks, whose estimates are more dependent on future cash flows, have been among the most affected in the recent sell-off.
The Nasdaq has fallen by about 25% for the year.
S&P 500 technology grew 1.6% in the day and led to the growth of the S&P 500 sector.
The S&P 500 growth index rose 0.9% and the S&P 500 value index fell 0.4%.
Investors welcomed comments from Cleveland Fed President Loretta Mester, who said the U.S. economy would experience turbulence from the Fed’s efforts to cut inflation more than three times the target, and recent stock market volatility would not deter politicians.
U.S. President Joe Biden said in a speech Tuesday on high inflation that he was considering lifting tariffs on China under Trump as a way to lower commodity prices in the United States.
Among those who rose the day, shares of Pfizer Inc rose 1.7% after it said it would pay $ 11.6 billion to buy Biohaven Pharmaceutical Holding Co.
Shares of Biohaven jumped 68.4%.
On the other hand, Peloton Interactive Inc fell 8.7% as the fitness equipment maker warned that the business was a “thin capitalization” after quarterly revenue fell 23.6%.
The volume on US stock exchanges amounted to 15.45 billion shares compared to the average for the full session over the past 20 trading days of 12.55 billion.
The decline in emissions exceeded the number of promotions on the NYSE by 1.36 to 1; on the Nasdaq a factor of 1.34 to 1 contributed to the decline.
The S&P 500 has released 1 new high in 52 weeks and 63 new lows; The Nasdaq Composite recorded 19 new highs and 1,066 new lows.