U.S. stocks produced a mixed picture at the close on Tuesday. Broad indices diverged - the Dow Jones Industrial Average finished lower, while the S&P 500 and the Nasdaq Composite ended the session in positive territory. Sector performance was uneven, with Utilities, Technology and Oil & Gas among the stronger groups and Healthcare, Telecoms and Financials among the laggards.
At the New York Stock Exchange close, the Dow lost 0.83%. The S&P 500 rose 0.41% and the Nasdaq Composite climbed 0.91%.
Notable moves among blue-chips
Several large-cap names contributed to the day's internal market divergence. Amazon.com Inc (NASDAQ:AMZN) was among the top performers on the Dow, advancing 2.63% to close at 244.68. Microsoft Corporation (NASDAQ:MSFT) added 2.20%, finishing at 480.63, and Cisco Systems Inc (NASDAQ:CSCO) rose 2.17% to 78.68 by the market close.
At the other end of the Dow, UnitedHealth Group (NYSE:UNH) posted a significant decline, falling 19.61% to 282.68. Nike Inc (NYSE:NKE) slipped 2.92% to 63.10, while Home Depot Inc (NYSE:HD) ended down 1.59% at 380.37.
S&P 500 and Nasdaq leaders and laggards
On the S&P 500, several companies posted strong gains. Corning Incorporated (NYSE:GLW) rose 15.60% to 109.76, Sysco Corporation (NYSE:SYY) climbed 10.96% to 83.92, and General Motors Company (NYSE:GM) gained 8.75% to close at 86.38.
Major healthcare names were among the weakest on the index. Humana Inc (NYSE:HUM) dropped 21.10% to 208.00, UnitedHealth Group (NYSE:UNH) again featured among the biggest decliners with a 19.61% loss to 282.68, and Elevance Health Inc (NYSE:ELV) fell 14.33% to finish at 322.92.
On the Nasdaq Composite, several small-cap and micro-cap issues recorded dramatic percentage moves. TEN Holdings Inc (NASDAQ:XHLD) surged 177.17% to 3.52, X3 Holdings Co Ltd (NASDAQ:XTKG) rallied 121.39% to 0.59, and Global Interactive Technologies Inc (NASDAQ:GITS) jumped 117.28% to 4.15.
Conversely, the Nasdaq also hosted steep declines: Gauzy Ltd (NASDAQ:GAUZ) fell 42.53% to 1.00, MDJM Ltd (NASDAQ:UOKA) lost 40.09% to 1.33, and Dogness International Corp Class A (NASDAQ:DOGZ) retreated 40.00% to 1.62.
Market breadth and milestone moves
On the NYSE, advancing issues outnumbered decliners by 1,505 to 1,223, with 102 issues unchanged. On the Nasdaq, 1,795 issues rose, 1,567 declined and 182 finished unchanged.
Several individual stocks reached notable price milestones during the session. Corning Incorporated rose to five-year highs, closing at 109.76 after a 15.60% gain. Humana Inc fell to five-year lows at 208.00 following a 21.10% drop. Sysco Corporation climbed to three-year highs at 83.92. General Motors closed at an all-time high of 86.38. MDJM Ltd reached 52-week lows at 1.33, while Global Interactive Technologies Inc hit 52-week highs at 4.15. Dogness International Corp Class A fell to an all-time low at 1.62.
Volatility, commodities and currencies
The CBOE Volatility Index, which gauges implied volatility of S&P 500 options, rose 1.24% to 16.35.
In commodities trading, Gold Futures for April delivery advanced 1.75% or 89.50 to settle at 5,211.80 a troy ounce. Crude oil for March delivery increased 3.02% or 1.83 to 62.46 a barrel, and the April Brent oil contract rose 2.81% or 1.82 to 66.59 a barrel.
In foreign exchange markets, the EUR/USD pair strengthened 1.34% to 1.20, while USD/JPY declined 1.17% to 152.35. The US Dollar Index Futures fell 1.25% to 95.65.
Session takeaway
The session featured sector divergence that left headline indices split. Energy-related and technology names helped push the S&P 500 and Nasdaq into positive territory, while heavyweights in healthcare and other sectors contributed to the Dow's decline. Activity included both large-cap rotation and pronounced volatility among small-cap Nasdaq issues.
Questions for market participants
- How will the notable moves among major insurers and healthcare providers affect sector leadership in coming sessions?
- Will the gains in energy and technology stocks persist if commodity and currency moves continue?