FactSet Evening Market Recap - Tuesday, 12-Sep
US equities were mostly lower in Tuesday trading, with the Dow, S&P, and Nasdaq finishing down 0.05%, 0.57%, and 1.04%, respectively. Big tech, especially Apple (AAPL), was a drag after helping drive the market higher yesterday. Software, networking and communications, HPCs, beverages, freight and logistics, homebuilders, building materials, and MedTech were among the other laggards. Meanwhile, energy, banks, insurers, credit cards, airlines, rails, and casual diners held up better. Treasuries were mostly firmer with some curve flattening after another backup in yields on Monday. The dollar index finished up 0.2% with gains on the major crosses. Gold ended down 0.6% while bitcoin futures ended up 4.5% following a 3.5% selloff in the prior session. WTI crude settled up 1.8%, ending near 10-month highs after the OPEC report highlighted a growing supply deficit. In macroeconomic news, the NFIB small business optimism index slipped to 91.3 in August from 91.9 in July, marking the 20th consecutive month below the 49-year average of 98. Otherwise, there was not much else in today's headlines, as the market still seems to largely be in waiting mode for CPI tomorrow and then PPI, retail sales, ECB and UAW contract expiration on Thursday.