Wall Street rises amid mixed economic data, yields climb, Nvidia & Alphabet surges

Wall Street’s key benchmarks rose on Tuesday amid mixed reports on economic growth and consumer confidence.

As of 10:38 A.M. Eastern, the S&P 500 rose 0.1%, the Dow Jones Industrial Average rose 0.1%, and the Nasdaq Composite rose 0.1%.

At 09:30 A.M. ET, the Dow Jones Industrial Average fell 62.81 points, or 0.13%, to 48,299.87. The ⁠S&P 500 lost 4.69 points, ⁠or 0.07%, to 6,873.80, while the Nasdaq Composite dropped 21.13 points, or 0.09%, to ⁠23,407.70.

On Monday, the major US stock indices closed solidly higher.

US Gross Domestic Product (GDP) in the third quarter came in at 4.3% on an annual basis, topping analysts expectations.

The surprisingly strong data could change the calculus on upcoming monetary policy decisions.

Separately, an update from business group The Conference Board showed that consumer confidence slipped in December to its lowest level since tariffs were rolled out in April.

The markets eye a light week of updates after Tuesday, with stock exchanges closing early Wednesday and all of Thursday for the Christmas holiday.

The 10-year US ⁠Treasury yield rose to 4.19%. The yield on the 2-year Treasury rose to 3.54% from 3.49%.

The US dollar also trimmed its losses.

Among the S&P sectors, six of the 11 gained, led by energy and communication services.

Consumer staples and real estate were the laggards.

Key Stock Movers

Shares of Nvidia rose 0.8% and Google’s parent Alphabet added 1%.

Novo Nordisk stock jumped 8.9% after US regulators approved a pill version of the blockbuster weight-loss drug Wegovy

Bullion Market

Gold prices hit a record high on Tuesday, while silver crossed $70 mark for the first time, as a weaker US dollar and persistent geopolitical uncertainty boosted safe-haven demand.

As of 1336 GMT, Spot gold climbed 0.9% to $4,486.99 per ounce, after reaching a record $4,497.55 earlier in the session. US gold futures for February delivery added 1.1% to $4,518.80.

Spot silver climbed 2.2% to a record of $70.61 per ounce. The white metal is up 143% year-to-date on supply deficits and investment inflows.

Elsewhere, spot platinum soared 3.5% to $2,193.60, while palladium added 1.6% to $1,786.94.

Crude Oil Market

Oil prices extended their winning streak into a fifth consecutive day on Tuesday, as global energy markets continued to react to the intensifying American crackdown on Venezuelan oil shipments.

Brent traded above $62 a barrel, while West Texas Intermediate was close to $58.

The primary catalyst for this week’s price action is the United States’ direct intervention in Venezuelan oil logistics. In recent days, American authorities have successfully boarded one oil tanker suspected of violating sanctions. Formally seized a second vessel in international waters. Maintained a high-stakes pursuit of a third tanker identified in the vicinity of the Venezuelan coast.

US President Donald Trump last week ordered a "blockade" of all sanctioned oil tankers entering and leaving Venezuela. He also said he was not ruling out the possibility of war with the South American country.

Meanwhile, a cargo of Russian crude from US-sanctioned Rosneft PJSC has finally been delivered to a Chinese oil terminal after spending three months at sea, ship-tracking data show.