NEW YORK, New York – Stocks were decidedly mixed in the U.S. on Tuesday as investors struggled to make a buy or sell case.
“When you transition from a bear market to a bull market, especially one where the Fed is raising rates, and there are concerns over the consumer, you really want to see consumer discretionary underpinned by enthusiasm. And today’s move in discretionary names is positive for the market,” Quincy Krosby, chief global strategist for LPL Financial in Charlotte, North Carolina, told Reuters Tuesday.
The Dow Jones industrials did best, surging 239.44 points or 0.71 percent to 34,151.88.
The Nasdaq Composite slid 25.50 points or 0.19 percent to 13,102.55.
The Standard and Poor’s 500 gained 8.06 points or 0.19 percent to 4,305.20.
On foreign exchange markets, currencies were mixed. The euro bounced back from lows in Asia to trade at 1.0168 around the New York close Tuesday. The British pound rebounded to 1.2092. The Japanese yen dropped sharply to 134.19. The Swiss franc sank to 0.9495.
The Canadian dollar advanced to 1.2841. The Australian and New Zealand dollars were lower but well ahead of their close in Asia. They last traded at 0.7025 and 0.6344, respectively.
In Paris, the CAC 40 climbed 0.34 percent. The German Dax was up 0.69 percent. London’s FTSE 100ngained 0.36 percent.
The Australian All Ordinaries gained 37.00 points or 0.51 percent, to close Tuesday at 7,361.90.
In Japan, the Nikkei 225 inched down 2.87 points or 0.01 percent to 28,868.91.
South Korea’s Kospi Composite edged up 6.86 points or 0.27 percent to 2,534.80.
New Zealand’s S&P/NZX 50 rose 58.12 points or 0.49 percent to 11,847.15.
In China, the Shanghai Composite was flat, adding 1.80 points or 0.05 percent to 3,277.88.
in Hong Kong, the Hang Seng declined 210.34 points or 1.05 percent to 19,830.52