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**US Stock Market Summary:**
In early trading on Tuesday, major U.S. stock indexes showed declining trends but developed mixed results as the session progressed.
The Nasdaq and the S&P 500 managed to overcome initial weakness, closing at new record highs. Meanwhile, the Dow Jones Industrial Average, despite recovering from its lowest points, remained in negative territory for the day. Specifically, the Nasdaq surged by 151.07 points (0.9%) to 17,343.55, and the S&P 500 edged up by 14.53 points (0.3%) to 5,375.32. However, the Dow dropped 120.62 points (0.3%) to finish at 38,747.42.
**Key Developments:**
1. **Tech Sector Boost:** The tech-heavy Nasdaq's rise was partially driven by a significant increase in Apple (AAPL) shares, which soared by 7.3% after the company unveiled new AI features expected to encourage device upgrades.
2. **Upcoming Economic Events:** Traders are keenly anticipating two major economic events on Wednesday. Early trading may be influenced by the Labor Department's report on May's consumer price inflation.
- Consumer prices are expected to increase by 0.1% in May, following a 0.3% rise in April.
- Core consumer prices, excluding food and energy, are projected to climb by 0.3% for the second consecutive month.
- The overall annual growth rate in consumer prices is anticipated to remain at 3.4%, while core consumer price growth might slow to 3.5% from April's 3.6%.
These data points could impact the forecast for interest rates ahead of the Federal Reserve's monetary policy announcement later in the day. Although the Fed is expected to maintain current interest rates, traders will closely analyze the accompanying statement and latest economic projections.
**Sector Performance:**
- **Banking:** Banking stocks experienced a sharp decline, with the KBW Bank Index dropping 2.0% to its lowest in nearly two months.
- **Housing:** Housing stocks saw significant weakness, leading to a 1.4% decrease in the Philadelphia Housing Sector Index.
- **Airlines:** Airline stocks also faced a notable downturn, evidenced by a 1.4% decline in the NYSE Arca Airline Index.
- **Other Sectors:** Brokerage, gold, and steel stocks moved lower, while gains in software, computer hardware, and networking stocks supported the Nasdaq's advance.
**International Markets:**
- **Asia-Pacific:** Stock markets showed mixed results. Japan's Nikkei 225 Index rose by 0.3%, whereas China's Shanghai Composite Index fell by 0.8%.
- **Europe:** Major European markets declined. The French CAC 40 Index dropped by 1.3%, the U.K.'s FTSE 100 Index decreased by 1.0%, and Germany's DAX Index fell by 0.7%.
**Bond Market:**
Treasuries recovered after declines in the previous sessions. Consequently, the yield on the benchmark ten-year note, which moves inversely with price, decreased by 6.5 basis points to 4.404%.
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