US Stock Markets Today: S&P 500, Nasdaq Open Little Changed As Trump-Fuelled Rally May Ebb
S&P 500, was up fractionally by 2.24 points at 6,003.6, whereas the Nasdaq Composite opened 0.05% lower at 19,289.81.
The US stock market opened on a slightly flat note on Tuesday, after days of climb, as the rally fuelled by Donald Trump's presidential election win may ebb.
The broader index, S&P 500, was up fractionally by 2.24 points at 6,003.6, whereas the tech-heavy Nasdaq Composite opened 0.05% lower at 19,289.81.
The 30-stock Dow Jones Industrial Average was up 0.14% at 44,359.21 at the opening bell.
Among the 11 S&P 500 sectoral indices, five edged higher and six moved lower minutes after the trading commenced. The gains were led by telecom and information technology, whereas utilities and materials headed the drags.
Tesla Inc., which has been soaring since Trump's victory, shed 2.4% to trade at $341.54. Trump Media & Technology Group Corp was also among the early losers, as its shares declined by 7.4% to $30.92.
Among the key gainers were Meta Platforms Inc., which advanced 2.44% to $597.4, and Nvidia Corp., which rose 1% to $146.64.
Even as the main Wall Street indices were little changed, the dollar continued to strengthen—a trend seen since Trump's win in the Nov. 5 election. The Bloomberg Dollar Spot Index rose 0.4% after the markets opened. The 10-year Treasury yield also advanced by eight basis points to 4.39%.
Gold, which shares an inverse relationship with dollar and bond yields, continued to slip. Spot gold was down 0.3% at $2,612.26 an ounce 9:50 a.m. (EST).
ALSO READ
Gold Price To Slip Or Recover With Release Of US Economic Data This Week? Experts Share Key Levels
Bitcoin continued its ascent, rising 5.2% to trade at $86,653.7 at 9:51 a.m. (EST). The world's largest traded cryptocurrency spiked following Trump's win, as the President-elect is expected to ease regulations. During the campaign trail, Trump said he aims to make the US "the crypto capital of the world".
Before the Wall Street opened, its Asian peers settled on a low note. China's Shanghai Composite Index slipped 1.39% and Hong Kong's Hang Seng Index closed 2.84% lower, whereas Japan's Nikkei 225 ended the session with 0.4% slide. India's NSE Nifty 50 also closed in the red, slipping by 1.07%.
