The major market averages were mixed on Tuesday, a day after data showed that activity in the manufacturing sector contracted for a second-straight month.
The blue-chip Dow (DJI) was up 0.1%, the benchmark S&P 500 (SP500) slid 0.1%, and the tech focused Nasdaq Composite (COMP:IND) dipped 0.1%.
From a sector point of view, five of the 11 S&P segments are higher, with Real Estate and Consumer Staples leading the way. On the other end of the spectrum, Energy has been the worst performer.
The Treasury market has watched yields shift lower again. The shorter end U.S. 2 Year Treasury yield (US2Y) declined by 3 basis points to 4.77%. At the same time, the longer end U.S. 10 Year Treasury yield (US10Y) moved lower by 5 basis points to 4.33%.
See how other yields trade across the entire yield curve here.
On the artificial intelligence front, Elon Musk reportedly directed Tesla’s (TSLA) Nvidia (NVDA) chips to go to xAI.
Recession thoughts…
