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The first session of the holiday-shortened week was a wild one, as a deep Tuesday morning dip evolved into a severely split market featuring pockets of red and green alike.
On one side, you had big dips in economically sensitive sectors. Energy (-4.0%) fared the worst thanks to a drastic decline in U.S. crude oil futures, which plunged 8.2% to $99.50 - the commodity's lowest finish in more than two months.
SEE MORE The 10 Best Stocks for a Bear Market
"This move came on the back of an ever-increasing number of economic indicators (Goldman Sachs US Financial Conditions Index, Citi US Economic Surprise Index, ISM orders) now pointing to sustained weakening of financial conditions as well as Street expectations," says Michael Reinking, senior market strategist for the New York Stock Exchange.
Also weighing on oil was a strengthening U.S. dollar, which closed the session at a 19-year high. (Remember: Oil is priced in U.S. dollars, so a strong dollar will weigh on oil prices, and vice versa.) The aforementioned worries of weakness hampered other sectors, too, including materials (-2.0%) and industrials (-1.5%).
"Shifting to a more near-term view, with commodity prices coming a bit back down to reality, some investors may view this as a welcome sign that inflation is beginning to cool - the main driver of recent volatility," adds Chris Larkin, managing director of trading for E*Trade.
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However, other parts of the market - namely, those pinned to the ground by rising interest rates - came off the mat as rec
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 U.S. stocks booked a dramatic turnaround on Tuesday, with the S&P 500 and Nasdaq Composite both ending a choppy session higher, even as investors kept an eye on signs that the U.S. could slip into a recession. The Dow Jones Industrial Average shed 0.4%, or about 130 points, to finish near 30,967. At the session's low, the blue-chip index traded about 600 points lower, according to FactSet data. The S&P 500 index eked out a gain of 0.2%, while the Nasdaq Composite Index closed up 1.8%. A strong U.S. dollar and tumbling oil prices also were in focus, with the U.S. benchmark falling 8.2% to close below $100 a barrel, its lowest in more than two months.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 Concerns about a recession and a drop in energy demand led to a drop in U.S. benchmark West Texas Intermediate crude-oil prices below the $100 -a-barrel mark on Tuesday for the first time in months. That's contributed to talk of a potential "buying opportunity" for traders, even as some analysts expect further price declines.
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Technology stocks led a turnaround in stocks on Tuesday, booking the best performance of the post-July 4 session as inflation expectations subsided.
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The Biden administration is continuing to review options on tariffs on Chinese goods, the White House said Tuesday, as a report said the president was expected to roll back some levies on those imports soon. A Wall Street Journal report said President Joe Biden could announce his decision this week. Briefing reporters, White House press secretary Karine Jean-Pierre said Biden's team is "talking through this" but she had no announcement as of Tuesday afternoon. Biden's decision could include a pause on tariffs on consumer goods such as clothing and school supplies, as well as launching a framework to allow importers to request tariff waivers, the Journal reported.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Oil fell sharply on Tuesday, with U.S. prices ending at below $100 a barrel --- at their lowest since late April --- as concerns over the global economic outlook spurred uncertainty about the demand outlook for crude, and the dollar surged.
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Investors are worried that companies will cut their advertising budgets in a weakening economy, and also that The Trade Desk might not land a major new partner.
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Shares in French music-streaming service Deezer fell in their first day of trading, a fresh sign of the difficult environment facing startups and loss-making companies.
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The two- and 10-year Treasury yields fell for a fourth straight trading day on Tuesday, posting their biggest declines over such a time frame since March 2020.
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Investors don't want to buy fintech stocks.
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The 3D content-creation engine was finally getting a pop after a horrendous first half of 2022.
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 Starting your financial independence when rent and food prices keep rising is tough. Budgeting experts offer tips.
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 The S&P 500, Dow and Nasdaq erase early losses to end slightly higher, but investors remain nervous a recession is on its way.
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Oil futures fell sharply on Tuesday, with U.S. prices below the $100-a-barrel mark - at their lowest in more than two months, pressured by strength in the U.S. dollar and concerns over a possible recession that would hurt energy demand. WTI oil's fall was "inevitable as the market rebalances after fears of sanctions give way to the realities of Russian sales to new buyers in Asia, and the impact of high prices on demand and the economy become increasingly apparent," said Michael Lynch, president at Strategic Energy & Economic Research. West Texas Intermediate crude for August delivery fell $8.93, or 8.2%, to settle at $99.50 a barrel on the New York Mercantile Exchange, the lowest front-month finish since April, according to Dow Jones Market Data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Live: Boris Johnson Battles for Survival; 2 U.K. Cabinet Ministers Quit The New York TimesBritish government resignations expected Washington PostHuge blow for Boris Johnson as two senior UK government ministers resign CNNFactbox: Can Boris Johnson be forced out, and how is a successor chosen? Reuters UKThe Guardian view on the cabinet resignations: endgame for Boris Johnson
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State intervention eases fears over security of supply for UK and Europe
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Twitter, Challenging Orders to Remove Content, Sues India's Government The New York TimesTwitter sues Indian government in pushback against orders to remove content The HillTwitter pursues judicial review of Indian orders to take down content Reuters.comTwitter takes Indian government to court over blocking orders The Washington PostReports: Twitter challenges India order to block content - KION546 KIONView Full Coverage on Google News
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Stocks were lower on Tuesday morning after the major averages finished another losing week.
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Rallies in the shares of the biggest technology company's helped lift the tech-heavy Nasdaq 100 to a healthy gain, even as the broader stock market was selling off. The Nasdaq 100 climbed 1.3% in afternoon trading, reversing an earlier drop of as much as 1.9%, as the index's top-five most valuable companies by market capitalization all rose. Shares of Apple Inc. gained 1.5%, Microsoft Corp. rose 1.0%, Alphabet Inc. ran up 3.8%, Amazon.com Inc. advanced 3.6% and Tesla Inc. tacked on 1.9%. The index's biggest gainer was early-pandemic beneficiary Zoom Video Communications Inc.'s stock , which rose 7.8%. Meanwhile, the Dow Jones Industrial Average slumped 279 points, or 0.9%, and the S&P 500 declined 0.9%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Financial stocks traded broadly lower Tuesday, as longer-term Treasury yields continued to fall amid growing concerns that a recession was on the horizon. Lower longer-term yields can weigh on banking profits, as they narrow the spread between what banks earn on longer-term assets, such as loans, that are funded by shorter-term liabilities. The SPDR Financial Select Sector ETF slid 1.5% in afternoon trading, with 56 of 66 equity components losing ground, to outpace the S&P 500's 0.9% decline. Among the ETF's more-active components, shares of Bank of America Corp. declined 2.4%, Citigroup Inc. shed 1.7%, Wells Fargo & Co. dropped 0.9% and JPMorgan Chase & Co. gave up 1.5%. The most-active of the gainers was Synchrony Financial's stock , which gained 0.6%. Meanwhile, the yield on the 10-year Treasury note fell 8.7 basis points (0.087 percentage points) to 2.802%, and have lost 40.4 basis points amid a four-day losing streak. The yield briefly fell below the 2-year Treasury yield , something known as a yield-curve inversion, which often foretells an economic recession.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Technical indicators in recent trade for both gold and silver are now "fully bearish," says Kitco.com's Jim Wyckoff.
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Shares of BioNTech SE fell 0.9% in premarket trading Tuesday, after CureVac N.V. filed in Germany a patent infringement suit against the biotechnology company. CureVac said there were certain of its patents that were utilized in the manufacture and sale of BioNTech and Pfizer Inc.'s COVID-19 vaccine, Comirnaty. CureVac said while it doesn't seek an injunction, and won't take legal action to impede the production or sale of Comirnaty, it is seeking "fair compensation" for infringement of its patents. CureVac's stock rose 0.4% in premarket trading, and Pfizer shares slipped 0.8%. Year to date, CureVac's stock has tumbled 58.5% and BioNTech shares have shed 38.9%, while the iShares Biotechnology ETF has dropped 21.3% and the S&P 500 has shed 19.7%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Appian Capital Advisory, an investment advisor to private equity funds aimed at the mining industry has hired Peter Nicholson from Resource Capital Funds as senior advisor, head of Australia and Asia.
The post Appian Capital Advisory hires Peter Nicholson to head Australia, Asia first appeared on AltAssets Private Equity News.
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In a call with employees, Facebook's founder tried to rally the troops.
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Russia pounds Ukraine's Donetsk region after seizing Luhansk ReutersLatest Ukraine War News: Russia Ramps Up Shelling in the East The New York TimesHow Ukraine's 'Venice' has borne the brunt of fight for Snake Island The GuardianZelensky vows to win back Luhansk from Russia - BBC News BBC NewsPro-Russian separatist forces descend on Donetsk; Ukrainian civilians told to flee as heavy shelling hits region CNBCView Full Coverage on Google News
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These are the stocks posting the largest moves in midday trading.
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The euro's decline was the most prominent sign of renewed recession fears, with stocks and oil prices also falling sharply.
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The share of new-car buyers with a monthly payment of more than $1,000 jumped to a record high, according to Edmunds.
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A strong start for its commercial sector and a war-related boost from Europe helped Raytheon to rocket higher.
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The so-called "inflation plays" came under more pressure today as fears over economic growth hit the market.
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Hacker Offers to Sell Chinese Police Database in Potential Breach The New York TimesHackers Claim Theft of Police Info in China's Largest Data Leak Bloomberg Markets and FinanceChina Tries to Censor What Could Be Biggest Data Hack in History GizmodoHacker claims biggest Chinese data breach with 1 billion resident records stolen: Report Fox NewsHacker claims to have stolen 1B records of Chinese citizens from police NBC NewsView Full Coverage on Google News
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China's Joy Capital has set a lower target for its fourth fund, according to AVCJ.
The post Joy Capital said to have set lower Fund IV target than Fund III size first appeared on AltAssets Private Equity News.
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