US Stock Market Report – Tuesday Recap January 7th

US Stock Market Report – Tuesday Recap

Market Overview:

• The major US benchmark equity indexes closed lower on Tuesday, driven by declines in key technology stocks.
  • Nasdaq Composite: -1.9% to 19,489.7
  • S&P 500: -1.1% to 5,909
  • Dow Jones Industrial Average: -0.4% to 42,528.4

Sector Performance:

• Technology: Biggest loser among sectors.
• Energy and Health Care: The only sectors to close higher.
• Materials: Remained little changed.

Top Stock Movements

Decliners:

• Nvidia: Fell 6.2%, the largest drop on the Dow and one of the worst performers on both the S&P 500 and Nasdaq.
• Tesla: Declined 4.1%, among the steepest losses on the S&P 500.
• Amazon, Microsoft, and Apple: Major contributors to the Dow's decline.
• Alphabet and Netflix: Also ended the day lower.
• Meta Platforms: Dropped 2% following an announcement to end its third-party fact-checking program in the US and introduce a personalized approach to political content.

Gainers:

• Moderna: Best performer on the S&P 500, climbing nearly 12%.
• Paychex: Rose 2.4% on news of its $4.1 billion acquisition of Paycor HCM to boost its AI capabilities.
• Paycor HCM: Fell 3% following the acquisition announcement.

Summary

Tuesday’s market downturn was largely attributed to steep declines in major tech stocks, particularly Nvidia and Tesla. While tech struggled, Moderna and Paychex emerged as bright spots.