The U.S. stock market saw modest gains in a session characterized by low trading volumes following the Christmas holiday. The S&P 500 Index gained 0.3% during midday trading in New York, eyeing its all-time highs, which are 1% above the current levels.
Tech stocks within the Nasdaq 100 index experienced a slight uptick of 0.4%, while blue-chip stocks rose by 0.2%.
Small-cap stocks, as represented by the iShares Russell 2000 ETF (NYSE:IWM), continued to outperform large-cap indices, extending the market narrative from December.
The dollar saw a marginal 0.2% decrease, while Treasury yields remained stable. Gold recorded a 0.3% increase, reaching $2,060 per ounce, while Bitcoin (CRYPTO: BTC) experienced a 3% decline.
Oil prices rallied, with WTI crude prices surging by over 3% to $76 per barrel on Tuesday, driven in part by intensified disruptions in Red Sea trade.
Tuesday’s Performance In US Major Indices, ETFs
| Major Indices & ETFs | Price | Change |
|---|---|---|
| Russell 2000 | 2,048.93 | +0.7% |
| Nasdaq 100 | 16,851.14 | +0.4% |
| S&P 500 | 4,769.81 | +0.3% |
| Dow Jones | 37,481.22 | +0.3% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) was 0.3% higher to $474.28, the SPDR Dow Jones Industrial Average ETF (NYSE:DIA) was 0.1% higher to $374.41 and the Invesco QQQ Trust (NASDAQ:QQQ) inched up 0.3% to $409.02, according to Benzinga Pro data.
Sector-wise, staples and utilities outperformed, with both the Consumer Staples Select Sector SPDR Fund (NYSE:XLP) and the Utilities Select Sector SPDR Fund (NYSE:XLU) up 0.9%.
The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) was the only sector in the red, down 0.3%.
Among industries, the VanEck Oil Services ETF (NYSE:OIH) led gains, up 2%, while airlines lagged behind, with the U.S. Global Jets ETF (NYSE:JETS) falling 0.4%.
Tuesday’s Stock Movers Intel Corp (NASDAQ:INTC) shares rose 4.4% after announcing its $25-billion investment plan in Israel, with $3.2 billion in government incentives secured. Plug Power Inc. (NASDAQ:PLUG) rose nearly 5% after the Biden administration unveiled tax credits to hydrogen producers on Friday. Shares of Manchester United (NYSE:MANU) surged close to 3% after British billionaire Jim Ratcliffe committed to purchasing 25% of the club’s Class B shares and as much as 25% of its Class A shares at a price of $33 each. Apple Inc. (NASDAQ:AAPL) eased 0.2% after the White House decided Tuesday to uphold the sales ban on Apple. Shares of Carnival Corp. (NYSE:CCL) and Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) dipped by 2.5% and 2.6%, respectively, retracting after a period of robust gains.
Read now: What’s Going On With Manchester United Stock Today?
Photo via Shutterstock.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Profit with More New & Research. Gain access to a streaming platform with all the information you need to invest better today. Click here to start your 14 Day Trial of Benzinga Professional
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
