Nasdaq Composite faces stiffest headwinds in Tuesday trade among main equity benchmarks
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U.S. stocks on Tuesday were tilted mostly lower as investors returned from the long holiday break, with technology stocks coming under pressure as shares of Apple Inc. declined.
What are indexes doing?
The Dow Jones Industrial Average traded up 12 points, or less than 0.1%, to 24,766, while the S&P 500 index dipped 2 points, or less than 0.1%, at 2,680. The Nasdaq Composite Index dropped 38 points, or 0.5%, to 6,928.
Last week (http://www.marketwatch.com/story/us-stocks-on-track-for-weekly-rise-with-data-deluge-on-deck-2017-12-22), the Dow and the S&P 500 posted a fifth straight week of gains ahead of the holiday, gaining 0.4% and 0.3%, respectively. The Nasdaq rose 0.3% as well for the week.
What's driving the market?
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In a holiday shortened week, with most global markets closed on Monday, volumes may stay low given many traders may stay away until after New Year. European markets are closed Tuesday in observance of Boxing Day.
Meanwhile, S&P Case-Shiller 20-city home-price index was up 6.4% from year ago in October.
See:MarketWatch's economic calendar (http://www.marketwatch.com/economy-politics/calendars/economic)
Which stocks are in focus?
Apple (AAPL) shares are down nearly 2.9%. A few of the iPhone maker's suppliers declined in Taiwan over a report of tepid iPhone X demand. Apple's stock decline was cutting more than 30 points from the price-weighted Dow industrials.
Need to know:The Apple 'X' factor that could deliver new year stress for investors (http://www.marketwatch.com/story/the-apple-x-factor-that-could-deliver-new-year-stress-for-investors-2017-12-26)
Global specialty pharmaceuticals group Mallinckrodt PLC(MNK) announced a deal to buy Sucampo Pharmaceuticals Inc. (SCMP) in a deal valued at $1.2 billion, including debt. Shares of Sucampo were up over 5%, and Mallinkrodt shares gained 2.5%.
What are other markets doing?
Oil futures and gold were also in the green, while the dollar index was flat around 93.307.
Bitcoin futures are atop $15,000 as the cryptocurrency is also swinging higher Tuesday (http://www.marketwatch.com/story/bitcoin-on-the-rebound-futures-prices-also-above-15000-2017-12-26).
(END) Dow Jones Newswires
December 26, 2017 09:45 ET (14:45 GMT)