FX.co ★ US Stocks Lack Direction

On Tuesday, the S&P 500 and the Dow Jones moved around the flatline while the Nasdaq rose by 0.2%. This movement occurred as investors assessed President Trump's trade policies' global impact. The Organization for Economic Cooperation and Development (OECD) had downgraded its global growth forecast for the second time this year, warning that rising trade barriers, tighter financial conditions, declining business confidence, and increased policy uncertainty are contributing to a worsening economic outlook. As for trade developments, it is anticipated that President Trump and President Xi will converse later this week amid heightened tensions between the US and China. Meanwhile, traders are eagerly awaiting significant economic data this week, including today's JOLTS report, which will provide further insight into the labor market. The materials and energy sectors were the most significant decliners, whereas utilities outperformed other sectors. Among mega-cap companies, Apple (-0.1%), Meta (-0.3%), and Alphabet (-1.8%) experienced losses, while Nvidia (0.6%), Microsoft (0.3%), Amazon (0.5%), and Tesla (0.7%) recorded moderate gains.