Fri, 07 May 2021

NEW YORK, New York - U.S. stocks were mixed on Tuesday with the Dow Jones losing ground, while the Standard and Poor's 500 and Nasdaq continued higher.

"Bond yields have mostly stabilized, setting the stage for strong stock markets and some rotation back to longer-duration technology issues. The Fed's reassurance also seems to have had its intended effect on markets that mostly shrugged off the recent PPI and CPI data releases," Scott Knapp, chief market strategist at CUNA Mutual Group told MarketWatch Tuesday.

The Nasdaq Composite took top honors Tuesday, finishing the day ahead 146.10 points or 1.05 percent at 13,996.10.

The Standard and Poor's 500 advanced 13.60 points or 0.33 percent to 4,141.59.

The Dow Jones industrials went against the trend, shedding 68.13 points or 0.20 percent to 33,677.27.

The U.S. dollar sank against a broad range of currencies, heralding a long-overdue correction. The euro saw out the day in New York around 1.1948, a three-week high. The British pound was unchanged at 1.3756. The Japanese yen jumped to 109.05. The Swiss franc was in demand at 0.9203.

The Canadian dollar rose to 1.2536. The Australian dollar gained to 0.7647. The New Zealand dollar strengthened to 0.7052.

Overseas, the FTSE 100 in London edged up just 0.02 percent. The Paris-based CAC 40 added 0.36 percent,m while in Germany, the Dax climbed 0.13 percent.

On Asian markets, the Australian All Ordinaries finished not much better than flat, rising 5.84 points or 0.08 percent to 7,231.00.

China's Shanghai Composite dipped 16.48 points or 0.48 percent to 3,396.47.

In Hong Kong, the Hang Seng added 23.48 points or 0.08 percent to 28,476.76.

The Nikkei 225 in Japan did best, rising 212.88 points or 0.72 percent to 29,751.61.

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