Most U.S. stocks slipped as Treasury yields climbed again on rising expectations that interest rates may stay high for a while.
The S&P 500 fell 0.2% Tuesday. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite fell 0.1%.
UnitedHealth helped support the market after jumping on a stronger-than-expected profit report. But the majority of stocks weakened after two top officials at the Federal Reserve warned it may not cut interest rates for a while after inflation reports this year came in worse than expected. The two-year Treasury yield briefly climbed as high as 5% before paring its gain.
On Tuesday:
The S&P 500 fell 10.41 points, or 0.2%, to 5,051.41.
The Dow Jones Industrial Average rose 63.86 points, or 0.2%, to 37,798.97.
The Nasdaq composite fell 19.77 points, or 0.1%, to 15,865.25.
The Russell 2000 index of smaller companies fell 8.23 points, or 0.4%, to 1,967.48.
Top Chinese diplomat meets with executive secretary of ESCAP
Exhibition of Healthcare Services at 2023 CIFTIS
China Announces Team for Hangzhou Asian Games
Experts Restore Terracotta Warriors in Xi'an
Real Madrid coach Carlo Ancelotti apologizes for forgetting German on his Bayern Munich return
Yunnan Spring Bud Girls Attend Study Tour in Beijing
Changshan Shows the Way to Boost Births
Day 4 Roundup: China Continues Dominance with 23 Golds, Another Shooting World Record Shattered
Ecuador announces complaint against Mexico at top UN court in diplomatic spat
French screen legend Gerard Depardieu will go on trial for sexual assault in October
Xinhua Think Tank Issues Report on China