US markets finished mixed on Tuesday as techs struggled after a downgrade on Intel.

The US markets finished mixed on Tuesday as techs struggled after a downgrade on Intel. In fact, Intel was the biggest drag on the Dow, down 2.7%, after Morgan Stanley downgraded the stock to “equal-weight” from “overweight,” and cut the entire industry to “cautious” from “attractive.”

The Dow was down 17.53 points, or 0.2%, to 9,771.91. The S&P 500 index added 2.53 points, or 0.2%, to 1,045.41. The Nasdaq Composite index rose 8.12 points, or 0.4%, to 2,057.32.

In economic data, factory orders rose 0.9% in September, after a 0.8-percent drop in August. Economists were expecting a gain of 1%. And the Fed began its two-day-meeting today; the statement will come out later today.

Crude rose nearly 2% to trade above 79 dollars after positive US economic data.

Base metals were weak ahead of Fed announcement and strong US dollar.

The dollar rose to a one-month high against a basket of currencies on concerns about the global banking sector and weaker equity markets. The dollar index is currently above 76. The index rose as high as 76.81; it’s highest since early October.

No related posts.