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Alsharq Tribune-Otaify
U.S. stocks ended mixed on Tuesday as investors took a breather following Monday's strong rally.
The Dow Jones Industrial Average rose 559.33 points, or 1.18 percent, to 47,927.96. The S&P 500 added 14.18 points, or 0.21 percent, to 6,846.61. The Nasdaq Composite Index shed 58.87 points, or 0.25 percent, to 23,468.3.
Ten of the 11 primary S&P 500 sectors ended higher, with health and energy leading the gainers by adding 2.33 percent and 1.29 percent, respectively. Meanwhile, technology bucked the trend by dropping 0.72 percent.
Shares of major technology firms came under pressure on Tuesday. Nvidia fell nearly 3 percent after surging over 5 percent the previous session, following reports that Japan's SoftBank had sold its entire stake in the chipmaker.
CoreWeave dropped more than 16 percent after the Nvidia-backed cloud computing company issued weaker-than-expected guidance on Monday.
On the economic front, a new report from ADP showed that the private sector shed more than 11,000 jobs on average per week over the four weeks ending Oct. 25, suggesting signs of cooling in the labor market.
Meanwhile, late Monday, the U.S. Senate approved legislation to fund the government and end the shutdown. The measure now heads to the House of Representatives, which is expected to vote as soon as Wednesday afternoon. U.S. President Donald Trump has said he will sign the bill.
"The shutdown had exacerbated concerns about sentiment and the job market, but these concerns already existed before and will continue to linger after the shutdown is resolved," said Benjamin Schroeder, senior rates strategist at ING. "Similarly, concerns about persistently too high inflation still linger, with a somewhat hawkish comment by the Fed's Musalem adding to the bear flattening as we started the week.
