US Stock Markets Show Mixed Performance
New York stock markets presented a mixed picture on Tuesday. At the close of trading, the Dow Jones Industrial Average reached 44,495 points, marking a gain of 0.9 percent compared to the previous trading day.
However, the broader S&P 500 saw a slight decline, closing at approximately 6,200 points, down 0.1 percent. The Nasdaq, heavily weighted with technology stocks, experienced a more significant drop, with the Nasdaq 100 settling at around 22,478 points, a decrease of 0.9 percent.
Jochen Stanzl, a market analyst at CMC Markets, attributed much of the downward pressure to Tesla shares. He noted the escalating dispute between Donald Trump and Elon Musk, suggesting that earlier expectations of potential benefits for Tesla stemming from Musk’s association with Trump have dissipated. Furthermore, the anticipated removal of purchase subsidies for electric vehicles is expected to negatively impact Tesla. Stanzl commented that Musk’s support for Trump had backfired, leading to a cooling of relations with the former president.
In currency markets, the Euro strengthened slightly against the US dollar, with one Euro trading at 1.1793 US dollars. Conversely, one US dollar was equivalent to 0.8480 Euros.
Gold prices experienced a notable increase, closing at $3,338 per ounce, a gain of 1.1 percent, or 90.99 Euros per gram.
Oil prices also saw an upward trend, with a barrel of Brent crude reaching $67.34 at approximately 10 PM German time, representing a 0.9 percent increase of 60 cents from the previous day’s closing price.