How major US stock indexes fared Tuesday, 4/16/2024
Most U.S. stocks slipped as Treasury yields climbed again on rising expectations that interest rates may stay high for a while.
The S&P 500 fell 0.2% Tuesday. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite fell 0.1%.
UnitedHealth helped support the market after jumping on a stronger-than-expected profit report. But the majority of stocks weakened after two top officials at the Federal Reserve warned it may not cut interest rates for a while after inflation reports this year came in worse than expected. The two-year Treasury yield briefly climbed as high as 5% before paring its gain.
On Tuesday:
The S&P 500 fell 10.41 points, or 0.2%, to 5,051.41.
The Dow Jones Industrial Average rose 63.86 points, or 0.2%, to 37,798.97.
The Nasdaq composite fell 19.77 points, or 0.1%, to 15,865.25.
The Russell 2000 index of smaller companies fell 8.23 points, or 0.4%, to 1,967.48.