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US close: Stocks lower in first session of holiday-shortened week

(Sharecast News) - Wall Street stocks closed lower on Tuesday as market participants returned from the Presidents' Day long weekend. At the close, the Dow Jones Industrial Average was down 0.17% at 38,563.80, while the S&P 500 lost 0.60% to 4,975.51 and the Nasdaq Composite saw out the session 0.92% weaker at 15,630.78.

The Dow closed 64.19 points lower on Tuesday, taking a bite out of gains recorded in the previous session.

Despite Friday's gains, major indices turned in their first losing week in more than a month, driven by fears that the Federal Reserve may not look to cut interest rates at quite the pace investors had hoped to see.

On Tuesday, the yield on the benchmark ten-year Treasury note was down a little less than one basis point at 4.277%, while its two-year counterpart was a little more than two basis points softer at 4.614%.

In the corporate space, Home Depot beat projections for its quarterly profit performance, even as sales came in lower than anticipated.

Elsewhere, retail giant Walmart revealed that it will acquire TV-maker Vizio for $2.3bn and also published quarterly earnings and revenue numbers that came in ahead of expectations, principally due to double-digit growth in e-commerce sales, while Capital One Financial traded lower on the back of news that it will reportedly purchase Discover Financial Services in an all-stock deal worth $35.3bn.

No major macro news was published on Tuesday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Walmart Inc. (WMT) $175.86 3.23% Intel Corp. (INTC) $44.52 2.32% Coca-Cola Co. (KO) $60.70 2.21% Walgreens Boots Alliance, Inc. (WBA) $22.31 1.50% Travelers Company Inc. (TRV) $220.11 1.18% Johnson & Johnson (JNJ) $157.95 0.84% Procter & Gamble Co. (PG) $158.40 0.63% 3M Co. (MMM) $92.06 0.62% JP Morgan Chase & Co. (JPM) $179.57 0.39% McDonald's Corp. (MCD) $292.55 0.22%

Dow Jones - Fallers

Caterpillar Inc. (CAT) $313.41 -2.54% International Business Machines Corporation (CDI) (IBM) $183.54 -2.24% Walt Disney Co. (DIS) $109.44 -1.94% Dow Chemical Co. (DOW) $54.65 -1.39% Visa Inc. (V) $275.09 -1.22% Salesforce.Com Inc. (CRM) $285.96 -1.15% Apple Inc. (AAPL) $181.56 -0.41% Chevron Corp. (CVX) $154.00 -0.41% Cisco Systems Inc. (CSCO) $48.28 -0.33% Merck & Co. Inc. (MRK) $127.37 -0.33%

S&P 500 - Risers

Discover Financial Services (DFS) $124.42 12.61% Hanesbrands Inc. (HBI) $4.52 6.07% Foot Locker Inc. (FL) $32.53 5.38% ConAgra Brands Inc (CAG) $28.39 4.67% Bath & Body Works, Inc. (BBWI) $47.26 4.32% Alaska Air Group Inc. (ALK) $38.92 3.73% United Airlines Holdings Inc (UAL) $43.49 3.57% Leggett & Platt Inc. (LEG) $20.42 3.33% Walmart Inc. (WMT) $175.86 3.23% McCormick & Co. (MKC) $67.97 2.89%

S&P 500 - Fallers

Fluor Corp. (FLR) $36.73 -12.73% Nektar Therapeutics (NKTR) $0.66 -6.78% Albemarle Corp. (ALB) $114.82 -6.34% J.B. Hunt Transport Services Inc. (JBHT) $199.73 -5.65% Applied Materials Inc. (AMAT) $189.14 -5.23% Advanced Micro Devices Inc. (AMD) $165.69 -4.70% Nvidia Corp. (NVDA) $694.52 -4.35% Advance Auto Parts (AAP) $61.78 -4.16% Dxc Technology Company (DXC) $20.84 -4.05% Gap Inc. (GPS) $19.03 -3.64%

Nasdaq 100 - Risers

Qurate Retail Inc. (QRTEA) $1.20 15.38% Liberty Global plc Series C (LBTYK) $19.49 2.85% Kraft Heinz Co. (KHC) $35.62 2.33% Intel Corp. (INTC) $44.52 2.32% Liberty Global plc Series A (LBTYA) $18.47 2.04% Dollar Tree Inc (DLTR) $146.29 2.04% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $541.29 1.73% Mondelez International Inc. (MDLZ) $73.19 1.68% Gen Digital Inc. (GEN) $21.70 1.59% Verisk Analytics Inc. (VRSK) $248.51 1.56%

Nasdaq 100 - Fallers

J.B. Hunt Transport Services Inc. (JBHT) $199.73 -5.65% Applied Materials Inc. (AMAT) $189.14 -5.23% Nvidia Corp. (NVDA) $694.52 -4.35% JD.com, Inc. (JD) $23.23 -4.09% Tesla Inc (TSLA) $193.76 -3.10% Lam Research Corp. (LRCX) $900.44 -2.76% Illumina Inc. (ILMN) $140.05 -2.34% Asml Holdings N.V. (ASML) $909.57 -2.09% Wynn Resorts Ltd. (WYNN) $103.23 -1.81% Check Point Software Technologies Ltd. (CHKP) $160.10 -1.64%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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