Stocks have moved moderately lower in early trading on Tuesday, giving back some ground after posting strong gains on Monday. The major averages have slid into negative territory, with the S&P 500 pulling back off a record closing high.
The major averages have seen some further downside in the past few minutes, hitting new lows for the young session. The Dow is down 68.07 points or 0.5 percent at 14,750.68, the Nasdaq is down 6.96 points or 0.2 percent at 3,300.06 and the S&P 500 is down 5.20 points or 0.3 percent at 1,588.41.
The weakness that has emerged on Wall Street is partly due to the release of a report from the Institute for Supply Management - Chicago showing an unexpected contraction in Chicago-area business activity in the month of April.
The ISM Chicago said its business barometer fell to 49.0 in April from 52.4 in March, with a reading below 50 indicating a contraction in regional business activity. Economists had expected the index to come in unchanged.
The disappointing regional business data has overshadowed a separate report from Standard & Poor's showing stronger than expected home price growth in February.
Gold stocks have shown a notable move to the downside in early trading, dragging the NYSE Arca Gold Bugs Index down by 2.9 percent. Newmont Mining (NEM) has helped to lead the sector lower after reporting weaker than expected first quarter results.
Steel, housing, and electronic storage stocks have also come under pressure, while most of the other major sectors are showing more modest moves.
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher on Tuesday, although Japan's Nikkei 225 Index bucked the uptrend and edged down by 0.2 percent. Australia's All Ordinaries Index jumped 1.2 percent, while Hong Kong's Hang Seng Index advanced by 0.7 percent.
Meanwhile, the major European markets have turned mixed on the day. While the German DAX Index is up by 0.6 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index are down by 0.3 percent and 0.2 percent, respectively.
In the bond market, treasuries have moved modestly higher, offsetting the weakness seen in the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 2 basis points at 1.648 percent.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.