On Tuesday, the S&P 500 Index fell by 0.21%, the Dow Jones Industrial Average decreased by 0.07%, and the Nasdaq 100 Index dropped 0.04%. March E-mini S&P futures declined by 0.11%, although March E-mini Nasdaq futures rose by 0.08%. Key factors affecting the stocks included a rise of over 5 basis points in the 10-year Treasury yield and increased concerns over the ongoing conflict in Iran, where the Pentagon reported its most intensive day of bombing.
Additionally, WTI oil prices plummeted by 12%, influenced by President Trump’s claim that the Iran war will conclude soon and discussions among G-7 finance ministers about the potential release of oil stockpiles. Meanwhile, U.S. existing home sales rose by 1.7% month-over-month to 4.09 million, surpassing expectations of a decline to 3.88 million. Over 95% of S&P 500 companies have reported Q4 earnings, with 74% exceeding expectations, marking an anticipated growth of 8.4% in earnings for the quarter.
In overseas markets, the Euro Stoxx 50 increased by 2.67%, while Japan’s Nikkei 225 rose by 2.88%. The 10-year T-note yield also climbed by 5.8 basis points to 4.154%. Treasury auction results and clarification from the White House regarding U.S. Navy operations contributed to market fluctuations.
