By Stephen Culp
NEW YORK, Feb 17 (Reuters) - Wall Street stocks see-sawed to nominal gains on Tuesday as investors juggled ongoing concerns over spending on artificial intelligence and the potential economic disruptions AI may bring, with positive signals from Iran regarding the progress of nuclear talks with the United States.
Investors appeared to buy the technology dip, with tech and chip shares reversing earlier losses as the session progressed.
I will go into more detail on today's market moves below. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today.
I'd love to hear from you, so please reach out to me with comments at stephen.culp@thomsonreuters.com.
Today's Key Market Moves
- STOCKS: U.S. indexes closed little changed. Norwegian Cruise Line NCLH.N and Southwest Airlines LUV.N helped boost transports .DJT, while Apple AAPL.O and Broadcom AVGO.O provided some upside muscle for tech .SPLRCT
- SECTORS/SHARES: Real estate .SPLRCR, financials .SPSY, Dow transports, and airlines .SPCOMAIR outperformed, but energy .SPNY, consumer staples .SPLRCS and housing stocks .HGX were the clear laggards
- FX: The dollar strengthened on geopolitical tensions, while the euro notched its sixth straight session of losses against the dollar. The yen weakened for the second straight session after snapping a five-day winning streak.
- BONDS: U.S. Treasury yields were mixed amid Fed rate cut speculation
- COMMODITIES/METALS: Cooling geopolitical tensions eased oil supply concerns and safe-haven demand, sending crude and gold prices lower.
- Fed's Goolsbee: Several rate cuts possible this year if inflation gets back to 2%
- Dollar might be ready for a reprieve after a four-month decline
- Suffocating U.S. pressure could force Russian oil output cuts
- Canada's annual inflation cools in January on falling gasoline prices
- Quiet markets, loud diplomacy: All eyes on Iran
- United Kingdom CPI (January)
- United Kingdom PPI (January)
- France CPI (January)
- U.S. New Orders for Durable Goods (December)
- U.S. Housing Starts/Building Permits (December)
- U.S. Industrial Production/Capacity Utilization (January)
- Japan Machinery Orders (December)
- South Korea Trade Balance (January)
- Australia Employment Report (January)
- U.S. Federal Reserve Vice Chair Michelle Bowman participates in a discussion on "supervision and regulation"
(By Stephen Culp; Editing by Nia Williams)
((stephen.culp@thomsonreuters.com))