U.S. stock benchmarks traded mostly lower Tuesday morning, with pressure again seen on the technology sector as investors continue to consider what the reappointment of Federal Reserve Chair Jerome Powell may mean for monetary policy tightening. The Dow Jones Industrial Average (DOW:DJIA) declined 17 points, or less than 0.1%, to around 35,604, the S&P 500 index (S&P:SPX) fell 0.2% to reach 4,674 and the Nasdaq Composite Index (NASDAQ:COMP) retreated 0.5% to 15,774, as a rise in Treasury yields continued, with the 10-year Treasury note (XTUP:BX:TMUBMUSD10Y) yielding around 1.64%. In corporate news, shares of Zoom Video Communications (NAS:ZM) were in focus after company executives detailed falling revenue on a conference call late Monday. U.S. markets will be closed on Thursday in observance of Thanksgiving and will end early on Friday.
Nov. 23, 2021, 9:38 a.m. EST