FYI: U.S. stocks fell Tuesday as renewed concerns about slowing global growth weighed on technology shares.
The Dow Jones Industrial Average rose 73 points, or 0.28%. The S&P 500 was up 0.03% as a decline in technology stocks offset gains elsewhere. The Nasdaq Composite shed 0.04%.
Shares of software companies and chip makers slumped, with Microsoft and Applied Materials dropping 1.6% and 1.2%, respectively. Both groups have come under pressure recently amid anxiety about the U.S.-China trade dispute and speculation over a downturn in the global economy.
Analysts were also monitoring Apple’s annual showcase this afternoon, where the tech giant revealed a trio of new iPhones. Apple shares ticked up 0.2%.
Data released Tuesday showed U.S. job openings fell for a second straight month in July, a potential indication that the recent hiring slowdown is a sign that companies are being cautious. Job openings, a closely watched measure of labor market health, dropped 3% from a year earlier in July to 7.217 million after declining 2% in June, the Labor Department said in its latest Job Openings and Labor Turnover Survey.
Unlike in the U.S., where investors seem fairly confident that an interest-rate cut is coming, European investors remain skeptical of how aggressive the ECB will be, said David Madden, a market analyst with CMC Markets.
Shares of Wells Fargo slipped 0.3% after UBS cut its rating on the bank to “neutral” from “buy,” saying the bank lacks visibility on profitability improvement.
The yield on the 10-year Treasury edged up to 1.688% Tuesday, from 1.632% Monday.
In commodities, U.S. crude oil slipped 0.8% to settle at $57.40 a barrel. Oil investors were eyeing a Thursday meeting of the Organization of the Petroleum Exporting Countries and its allies for indications of their agreed production goals. Additionally, the chief executive of Saudi Arabia’s state-run oil company on Tuesday said it is ready for an initial public offering whenever shareholders decide.
Gold prices fell 0.8% to settle at $1490.30 a troy ounce.
Elsewhere, the Stoxx Europe 600 rose 0.1%. Asian markets were muted, with the Shanghai Composite down 0.1% and Japan’s Nikkei 225 up 0.4%. Hong Kong’s Hang Seng was flat.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-09-10/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-futures-drift-lower-put-sp-500-in-danger-of-back-to-back-losses-2019-09-10/printWSJ:
https://www.wsj.com/articles/global-stocks-dip-with-central-banks-in-focus-11568102593Bloomberg:
https://www.bloomberg.com/news/articles/2019-09-09/asia-stocks-seen-mixed-sovereign-yields-climb-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/tech-stocks-recover-aapl-leads-faang-stocks/CNBC:
https://www.cnbc.com/2019/09/10/dow-futures-trade-lower-ahead-of-new-us-jobs-data-and-apple-event.htmlReuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-dips-as-tech-stocks-lag-trade-hopes-cushion-fall-idUSKCN1VV1CRU.K:
https://uk.reuters.com/article/uk-britain-stocks/jd-sports-leads-ftse-100-higher-rate-cut-hopes-support-idUKKCN1VV0N9Europe:
https://www.reuters.com/article/us-europe-stocks/defensives-lead-europe-stocks-lower-ahead-of-ecb-meeting-idUSKCN1VV0MSAsia:
https://www.cnbc.com/2019/09/10/asia-markets-sept-10-china-inflationus-china-trade-oil-currencies.htmlBonds:
https://www.cnbc.com/2019/09/10/us-treasury-yields-higher-ahead-of-fresh-jobs-data.htmlCurrencies:
https://www.cnbc.com/2019/09/10/forex-markets-us-china-trade-war-in-focus.htmlOil:
https://www.cnbc.com/2019/09/10/oil-markets-opec-saudi-arabia-in-focus.htmlGold:
https://www.cnbc.com/2019/09/09/gold-markets-monetary-policy-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
