Stocks moved slightly higher in early trading Tuesday after two straight days of gains for major indexes.
The S&P 500 and tech-heavy Nasdaq Composite were up 0.1% and 0.2%, respectively, about half an hour after the opening bell, while the Dow Jones Industrial Average was down fractionally. Stocks kicked off the week with big gains as investors digested news that President Trump could scale back some of the tariffs that are due to be imposed next week on U.S. trading partners. With the gains, the Dow has inched back into positive territory for 2025, as stocks rebound from a month-long selloff spurred by concerns about the potential impact of tariffs and uncertainty about the outlook for the economy.
Investors will be paying close attention to consumer confidence data that’s due to be released this morning at 10:00 a.m. ET. Recent reports have indicated that consumer sentiment has eroded, which has added to fears that the economic growth could stall.
The yield on the 10-year Treasury note, which had fallen during the recent stock market rout amid the growing concerns about the economy, was at 4.33%, unchanged from Monday’s close but down from an earlier high of 4.37%. The yield, which affects costs on all sorts of loans, notably mortgages, hit its highest level in more than a month this morning.
Mega-cap technology stocks, which helped lead Monday’s rally, were mixed this morning. EV maker Tesla (TSLA), which surged 12% yesterday to pace S&P 500 gainers, was down more than 2%, while chipmakers Nvidia (NVDA) and Broadcom (AVGO) also lost ground. Apple (AAPL), Microsoft (MSFT), Alphabet (GOOG) Amazon (AMZN) and Meta Platforms (META) were slightly higher.
Among other noteworthy movers, cybersecurity and cloud services provider Cloudflare (NET) and online used car seller Carvana (CVNA) were up 5% and 2%, respectively, after receiving upgrades from Wall Street analysts. Shares of KB Homes (KBH) plunged 6% after the homebuilder released a disappointing earnings report late yesterday.
Bitcoin was at $87,500, down from just over $88,000 late Monday afternoon. Gold futures were up 0.5% at $3,035 an ounce, while West Texas Intermediate futures, the U.S. crude oil benchmark, rose 0.8% to $69.65 per barrel.
1 hr 8 min ago
MicroStrategy (MSTR) shares were slightly lower this morning after jumping more than 10% on Monday.
Shares in the company, which is the world’s largest corporate holder of bitcoin, received a boost after a regulatory filing on Monday revealed that the software firm had purchased an additional 6,911 bitcoins between March 17 and March 23, taking its holding to over 500,000 BTC. MicroStrategy’s accumulation of the digital currency, which began in 2020, has shown no signs of slowing.
Shares of MicroStrategy, which does business under the name Strategy, have gained 16% since the start of the year as of Monday’s close and have more than doubled over the past 12 months as investors turn to the stock as a leveraged Bitcoin bet.
After retracing to the closely watched 200-day moving average, MicroStrategy shares traded sideways for several weeks before finding renewed buying interest. More recently, the stock closed above the 50-day MA on Monday, potentially setting the stage for a continuation of the stock’s longer-term uptrend.
Source: TradingView.com.
Meanwhile, the relative strength index flashes a reading above 50 to signal bullish price momentum, but also sits below overbought levels, providing the stock with ample room to test higher prices.
Investors should watch major overhead areas on MicroStrategy’s chart around $383, $543, and $870, while also monitoring key support levels near $232 and $180.
The stock was down 0.5% at $334 in recent premarket trading.
Read the full technical analysis piece here.
1 hr 41 min ago
Futures tied to major U.S. stock indexes were each up 0.2% in recent trading.
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