Stocks gyrated Tuesday as investors struggled to continue building on a recovery rally.
The Dow Jones Industrial index backed off 25.51 points to kick off Tuesday at 40,871.02
The S&P 500 index eased 8.55 points to 5,599.76.
The NASDAQ faded 70.27 points to 17,806.51.
Tuesday’s action comes on the heels of the S&P 500 and NASDAQ Composite posting their eighth straight positive sessions. That marks a first for both since late 2023.
Cybersecurity company Palo Alto Networks jumped nearly 7% after fiscal fourth quarter results topped analyst estimates and it set a $500 million stock buyback. Home improvement retailer Lowe’s dipped 0.6% after reporting worse-than-expected revenue and lowering its annual profit outlook, noting an expected slowdown in consumer spending.
Beyond earnings, Bank of America slipped almost 2% as Warren Buffett’s conglomerate Berkshire Hathaway continued dumping shares.
Prices for the 10-year Treasury gained ground, lowering yields to 3.83% from Monday’s 3.88%. Treasury prices and yields move in opposite directions.
Oil prices regained 33 cents at $74.70 U.S. a barrel.
Gold prices sprinted $21.40 to $2,562.70.
