Wall Street today: US stocks open mixed; Google rises over 4%, Oracle slumps 8%
At 9:37 am ET, the Dow Jones fell 145.77 points, the S&P 500 lost 0.16 points and the Nasdaq Composite gained 82.12 points.
US stocks were mixed on Tuesday with the Nasdaq outperforming its peers, boosted by rising megacap technology stocks.
The market participants are awaiting key consumer inflation data to be released on Wednesday. It could influence the US Federal Reserve's upcoming interest rate decision this month. The Fed meeting is scheduled for December 17-18.
At 9:37 am ET, the Dow Jones Industrial Average fell 145.77 points, or 0.33 per cent, to 44,256.16, the S&P 500 lost 0.16 points to 6,052.69 and the Nasdaq Composite gained 82.12 points, or 0.42 per cent, to 19,818.81.
At the opening bell, the Dow Jones Industrial Average fell 110.4 points, or 0.25 per cent, to 44,291.57. The S&P 500 rose 4.7 points, or 0.08 per cent, to 6,057.59, while the Nasdaq Composite rose 59.7 points, or 0.30 per cent, to 19,796.39.
Among technology stocks, Google-parent Alphabet jumped 4.7 per cent, following the company's unveiling of its new quantum computing chip, Willow.
Google CEO Sundar Pichai introduced the chip on Monday, highlighting its ability to significantly reduce computational errors and its performance in benchmark tests.
Oracle stock slumped 8.4 per cent after reporting lower-than-expected quarterly profits despite "extraordinary" growth in the artificial intelligence segment.
Alaska Air Group shares climbed 14 per cent as it unveiled a medium-term outlook that promised "at least" $10 earnings per share in 2027.
Boeing stock added 2.8 per cent after Reuters reported that the planemaker restarted production of its 737 MAX jets last week.
Pinterest stock slipped 3.5 per cent as Piper Sandler downgraded its rating on the image-sharing platform to "neutral" from "overweight".
AI software company C3.ai fell 6.9 per cent despite reporting a smaller loss for the third quarter.
The yield on the 10-year Treasury rose to 4.22 per cent from 4.20 per cent late on Monday.
Crude oil
Oil prices were steady on Tuesday on persistent concerns about a looming surplus.
Brent futures traded below $72 a barrel.
Bullion
Gold prices rose on Tuesday on rising geopolitical tensions and expectations of a third US rate cut by the Federal Reserve next week.
Spot gold was up 1.1 per cent to $2,687.69 per ounce at 9:35 am ET (1435 GMT). US gold futures were up 1 per cent at $2,712.10.
Spot silver added 0.6 per cent to $32.00 per ounce.
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