U.S. stocks experienced a mixed day of trading on Tuesday, as the Dow Jones registered consecutive losses for the first time in almost a month. However, the Nasdaq received a boost from a rally in megacap technology stocks. Notably, Apple Inc.’s market capitalization exceeded $3 trillion for the first time since early August.
Slight Dip in S&P 500
Preliminary closing data from FactSet reveals that the S&P 500 declined by 0.1%, or 2.60 points, to settle at 4,567.18. This slight dip raises questions about the sustainability of the recent bullish trend observed in November, during which the S&P 500 recorded its most significant monthly gain of the year (over 11%) and one of its best advances over the past decade.
Dow Jones Falls Modestly
The Dow Jones Industrial Average experienced a modest decline of 0.2%, or 79.88 points, closing at 36,124.56. While this can be considered a setback, it is worth noting that the index had shown remarkable strength over the past month.
Nasdaq Benefits from Tech Rally
Contrary to the Dow and S&P 500, the Nasdaq Composite witnessed a positive uptick, gaining 0.3% or 44.42 points, reaching a level of 14,229.91. This surge was largely driven by the impressive performance of megacap technology stocks.
The recent pullback in the market has left experts wondering whether the previous rally can be sustained in the coming weeks.