Wall Street took a brief respite during midday trading on Tuesday, marked by modest losses in major stock averages.
The subdued optimism was likely influenced by disappointing quarterly results from prominent retailers such as Lowe’s Companies Inc. (NYSE:LOW), Kohls Corp. (NYSE:KSS), and Best Buy Co. Inc (NYSE:BBY).
Investors were also eagerly awaiting the release of the Federal Open Market Committee (FOMC) meeting minutes at 2 p.m. ET, hoping for greater insight into monetary policy.
Shares of NVIDIA Corp. (NASDAQ:NVDA) declined by 1.7% after surging to fresh record highs on Monday, with the company scheduled to report earnings after the closing bell. This event has the potential to significantly influence market sentiment for the remainder of the shortened Thanksgiving week.
Gold prices made a remarkable surge, crossing the significant milestone of $2,000 per troy ounce, fueled by the sustained weakness of the dollar, which is holding at its lowest level in over two months.
US Index Performance On Tuesday
|S&P 500 Index||-0.27%||4,536.31|
The SPDR S&P 500 ETF Trust (NYSE:SPY) was 0.3% lower to $452.99.
The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) fell 0.2% to $350.70.
The Invesco QQQ Trust (NASDAQ:QQQ) was 0.7% lower to $387.96.
The iShares Russell 2000 ETF (NYSE:IWM) fell 1.1% to $177.36, according to Benzinga Pro data.
Chart Of The Day: Gold Surges To $2,000, Up Nearly 10% YTD
Sector, Industry ETF Performance
Among industries, gold miners, as tracked by the VanEck Gold Miners ETF (NYSE:GDX), sharply outperformed, rallying over 3.4%.
Stocks In Focus