Wall Street ends mixed session higher

Fueled by tech shares, Nasdaq outperforms on Tuesday.
Healthcare and energy offset tech gains in S&P 500.
Dow Jones closes the day flat.

Eren Sengezer FXStreet

Major equity indexes in the U.S. started the day on a mixed note amid the impact of recent earnings reports' on different sectors.

After announcing a bigger-than-expected growth in the number of subscribers in the last quarter of 2017, Netflix shares gained nearly 10% on Tuesday, providing a boost to other major players' shares of the sector. The tech-heavy Nasdaq Composite Index closed the day 54.21 points, or 0.73%, higher 7,462.25 while the S&P 500 Information Technology Sector (SPLRCT) added 0.65%.

Commenting on today's market action, “generally we like the trend of earnings, we think they will continue to be good and our forecasts for the rest of the year look good, it is not surprising the market is taking comfort in these good numbers,” Mike Baele, managing director at U.S. Bank Private Client Wealth Management in Portland, Oregon, told Reuters.

On the other hand, pressured by the heavy selling pressure witnessed on Johnson & Johnson and Procter & Gamble shares, the S&P 500 Health Care Sector (SPXHC) dropped 0.52% on the day, offsetting the tech-led gains in the broader S&P 500 Index, which added 6.36 points, or 0.22%, to 2,839.33. Moreover, despite rising crude oil prices, the S&P 500 Energy Sector (SPNY) failed to build on yesterday's gains and finished the day 0.15% lower.

The Dow Jones Industrial Average struggled to find direction on Tuesday and was virtually unchanged at 26,211.88 when the closing bell was rung.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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