- The major Wall Street indices opened mixed on Tuesday.
- Nasdaq Composite is posting strong gains thanks to the rise in tech stocks.
- Financial stocks suffer heavy losses as US Treasury yields turn south.
The Wall Street indices in the USA. They opened mixed on Tuesday amid mixed performance from major sectors. At time of writing, the Dow Jones Industrial Average was down 0.55% on the day at 33,560, the S&P 500 virtually unchanged at 4,126 and the Nasdaq Composite was up 0.75% at 13,925.
The US Bureau of Labor Statistics reported that the Consumer Price Index (CPI) in the US increased to 2.6% annually in March. However, further details from the release revealed that the core CPI rose modestly to 1.6%. With the initial market reaction, the 10-year US Treasury yield, which gained more than 1% earlier in the day, turned south and was last seen losing 0.95%. Consequently, the rate-sensitive financial index was down 1.35% on the day.
On the other hand, the Technology Index is rising 0.8%, reflecting a positive change in market sentiment.