Market in a Nutshell
U.S. stocks drifted lower towards the end of the trading session, with the S&P 500 slipping around 0.4% on Tuesday.
The Dow was down 0.46% to 38,713.72, while the NASDAQ edged 0.24% lower to 16,215.32. Simultaneously, the S&P 500 followed suit, declining by 0.39% to 5,182.36.
Market Sector Movements
Real estate shares surged by 0.8% on Tuesday, whereas financial shares saw a 0.7% slump during trading.
Small Business Optimism Down
The NFIB Small Business Optimism Index dipped for a third consecutive month to 88.5 in March, missing the market estimate of 90.2.
Sector Winners and Losers
Laser Photonics Corporation (LASE) experienced a notable 98% spike to $2.8450 after announcing a significant order.
On the flip side, Cognyte Software Ltd. (CGNT) shares tumbled 13% to $7.33 following the release of their fourth-quarter numbers and FY25 guidance.
Commodity Contrasts
Oil took a 1.4% drop to $85.19, contrasting with gold rising 0.7% to $2,367.40. Meanwhile, silver climbed 1.2% to $28.14, and copper ticked up 0.3% to $4.2885.
Global Market Overview
European markets concluded lower today, with varying shifts in major indices across different countries.
In the Asia Pacific region, markets displayed varied movements; while Japan’s Nikkei 225 and Hong Kong’s Hang Seng Index saw gains, India’s S&P BSE Sensex experienced a slight decline.
Economic Indicators
Foreign exchange reserves in Hong Kong dwindled to $423.6 billion in March, down from $425.2 billion the previous month. In Japan, machine tool orders decreased by 8.5% year-over-year, and consumer confidence index inched up to 39.5 in March.