US Stocks Waver
The three major averages in the US swung around the flatline on Tuesday, following a big sell-off the day before driven by concerns over the US's AI dominance amid rising competition from Chinese DeepSeek.
Nvidia shares rose around 1%, recovering some losses after a staggering 16.9% drop on Monday that wiped nearly $600 billion off its market cap, the largest one-day loss for a US company in history. Technology and communication services were the top performing sectors while utilities and consumer discretionary underperformed.
Meanwhile, earnings reports remain in focus, with shares of Boeing jumping more than 5% as the company's earnings and revenue missed forecasts but its CEO set a recovery plan. Lockheed Martin sank about 5% after its revenue for Q4 and and FY 2025 EPS guidance disappointed. Starbucks is also scheduled to release quarterly results today. Investors are also eyeing the Fed, which begins its two-day policy meeting later today.
Source: Trading Economics