FX.co ★ Dow Rises to Record, Tech Weighs on Nasdaq

On Tuesday, U.S. stock markets presented a mixed performance. Major stock indices exhibited gains across sectors, notwithstanding notable declines among technology leaders, as investors evaluated the latest earnings reports and speculated on Federal Reserve policies. Specifically, the tech-driven downturn led the S&P 500 and the Nasdaq 100 to close with losses of 0.3% and 0.9%, respectively. Conversely, the Dow Jones Industrial Average, with its more diversified components, reached a new record high before concluding with a gain of 100 points. Home Depot’s stock climbed 3.5% despite falling short of second-quarter earnings expectations, as the leading home-improvement retailer maintained steady annual guidance. This report marks the beginning of a week where other retail giants like Walmart, Target, and Lowe's are slated to release their earnings, providing insight into domestic consumption trends, which account for 70% of the U.S. GDP. Meanwhile, Intel's shares surged by 7% following SoftBank's decision to purchase $2 billion in the company’s equity, compounded by rumors that the U.S. government might be interested in acquiring a stake as well. In the tech sector, companies such as Nvidia, Broadcom, AMD, Oracle, Palantir, and Netflix collectively saw reductions in stock values, ranging from 2% to 7%.