US Stocks Lack Direction
Both the S&P 500 and the Dow Jones swung around the flatline while the Nasdaq added 0.2% on Tuesday, as investors continued to weigh the global impact of President Trump's trade policies.
The OECD downgraded its global growth forecast for the second time this year, warning that economic prospects are deteriorating due to rising trade barriers, tighter financial conditions, waning business confidence, and elevated policy uncertainty.
On the trade front, President Trump and President Xi will probably speak later this week, amid escalating tensions between the US and China.
Meanwhile, traders are closely watching for key economic data due this week that will offer insights into the labor market, including the JOLTS report later today. Materials and energy were the biggest laggards while utilities outperformed.
Among megacaps, Apple (-0.1%), Meta (-0.3%), and Alphabet (-1.8%) were in the red while Nvidia (0.6%), Microsoft (0.3%), Amazon (0.5%)and Tesla (0.7%) posted modest gains.
Source: Trading Economics