Indexes Lag While Most Stocks Rise Amid Quiet Trading
The stock market indexes were mostly down on Tuesday, but most individual stocks rose. The Dow Jones Industrial Average was down by just 0.08%, the S&P 500 fell 0.12%, and the Nasdaq Composite dropped 0.32% in quiet midday trading.
Oil prices climbed after Iran restated its position that the Strait of Hormuz would remain closed until certain conditions were met, including sanctions relief and compensation. President Trump responded by demanding 50 years of reparations.
The top two stocks dragging down the indexes were Alphabet and Amazon, both falling 2.2% each. This accounted for nearly the entire 0.32% Nasdaq decline.
Memory chip makers had a mixed performance, with Micron Technology's chief business officer stating that the memory shortage will extend well past 2027. Meanwhile, Nvidia is reportedly considering using less high-bandwidth memory in a forthcoming chip design to protect its margins.