Wall Street paused on Tuesday after three straight sessions of strong gains that pushed major large-cap indices to fresh records.
The S&P 500 slipped 0.2% to 6,682.62, while the Nasdaq 100 dipped 0.2%. The Dow Jones Industrial Average edged up 0.1% to 46,418.66, and small caps outperformed, with the Russell 2000 jumping 0.6%.
PSKY shares are testing new highs. Get the complete picture here.
On the economic front, the S&P Global U.S. Composite PMI slowed to 53.6 in September from 54.6 in August, signaling softer growth across both services and manufacturing, broadly in line with forecasts.
Energy stocks led sector gains as crude oil surged 2% to $63.50 a barrel amid rising geopolitical tensions in Europe. Copenhagen airport briefly shut down on Wednesday after several drones flew overhead, an incident Ukrainian President Volodymyr Zelenskyy blamed on Russia. Poland warned it would shoot down any drones entering its airspace.
Paramount Skydance Corp. PSKY topped the S&P 500 with an 11% rally, followed by Halliburton Co. HAL, up more than 9%.
In commodities, gold extended its rally to a record $3,780, on track for its strongest three-day gain since May. Silver rose 0.5%, climbing above $44 per pound.
Bitcoin BTC/USD held steady at $112,750.
Tuesday’s Performance In Major U.S. Indices, ETFs
According to Benzinga Pro data:
The Vanguard S&P 500 ETF VOO edged 0.2% down to $613.52.
The SPDR Dow Jones Industrial Average DIA inched slightly down to $463.63.
The tech-heavy Invesco QQQ Trust Series QQQ eased 0.2% to $600.80.
The iShares Russell 2000 ETF IWM rose 0.6% to $245.88.
The Energy Select Sector SPDR Fund XLE outperformed, up 2.4%; the Technology Select Sector SPDR Fund XLK lagged, down 0.4%.
S&P 500’s Top 5 Gainers On Tuesday
S&P 500’s To 5 Losers On Tuesday
Read Now:
Goldman Warns: Enjoy The Market Calm While It Lasts—October Chaos Is Coming
Image created using artificial intelligence via Midjourney.