Stock indexes saw a decline on Tuesday as investors awaited the Federal Reserve’s policy meeting. Tesla also faced a significant drop due to layoffs, while Amazon’s earnings were eagerly anticipated after market close.
The Dow Jones Industrial Average and S&P 500 both fell in the morning, while the Nasdaq composite also experienced a slight decline. Additionally, the 10-year Treasury yield rose and oil prices increased.
Tesla’s stock plummeted after reports of layoffs and struggles with sales, although it had seen a significant increase the day before. Amazon’s earnings report was expected after hours.
The Federal Reserve meeting will provide insights into potential rate cuts, depending on economic data. Various companies, including Coca-Cola, Lattice Semiconductor, and NXP Semiconductor, reported their earnings on Tuesday.
Stocks like Chipotle Mexican Grill and Texas Roadhouse were among the top companies to watch. American Express stocks showed strength, while other growth stocks like Chipotle and Tradeweb remained bullish.
Nvidia continued to perform well on Tuesday, along with Apple and Microsoft in the Dow Jones. The market is closely watching these companies to gauge the overall performance of the stock market.
