NEW YORK – Stock prices were swinging at noon Tuesday on the New York Stock Exchange, the day after they had their steepest rise in more than five weeks.
At noon, the S&P 500 index rose 0.1% after exhibiting small fluctuations in the morning. Technology companies rose, compensating for the declines in the health sector, banks and others.
Investors anticipate that the economy and corporate profits will recover as various countries around the world relax the restrictions they had imposed to deal with the coronavirus. Yet at the same time, concerns remain that a reopening that is too abrupt will cause another wave of contagion and thus another wave of financial closures.
The Dow Jones Industrial Average fell 49 points (0.2%) to 24,550, while the Nasdaq technology rose 0.6% and the Russell 2000 Small Business Index advanced 0.1%.
US crude was down 0.3% at $ 31.71 a barrel. Brent crude, the international standard, was down 1% at $ 34.47 a barrel.
The yield on 10-year US Treasuries fell from 0.74% to 0.71%.
In Europe, the French CAC 40 index fell 0.9%, while the German DAX rose 0.1% and the British FTSE 100 lost 0.8%. Asian markets closed higher.