Market Update
As of Tuesday at 1:15 p.m. ET, the S&P 500 and Nasdaq saw declines of at least 0.5%, primarily driven by a 2%-3% drop in Apple’s stock, which is the largest drag on these major indexes due to its significant market cap. Apple CEO Tim Cook announced he will step down in September 2023, handing the role over to John Ternus, who has been with the company since 2001, potentially stirring market concerns.
The two-week ceasefire in the Iranian conflict expires Wednesday, raising speculation over its impact on oil prices. The market is awaiting a signal from these prices to gauge market direction. The performance of major stocks today highlights continued volatility, with Goldman Sachs down 1.5%, contrasting with UnitedHealth, which surged 8.5% after exceeding Q1 2026 earnings expectations.
