Stocks struggled for direction on Tuesday, as investors weighed a fresh batch of bank earnings against tech weakness. Global chip stocks faced pressure amid rising competition concerns out of China, leading to a sharp selloff in South Korean markets. The Dow shed triple digits, while the Nasdaq and S&P 500 finished quietly in the red.
Elsewhere, the iShares U.S. Healthcare Providers ETF (IHF) hit its highest level since September 2024 before turning lower. Investors are also looking ahead to key inflation data later this week, with September's consumer price index (CPI) and producer price index (PPI) reports on tap.
Oil, Gold Prices Little Changed
Oil prices inched higher as investors monitored President Trump's diesel-supply deal with Russia and the Saudi-Houthi conflict. November-dated West Texas Intermediate (WTI) futures rose 40 cents to settle at $94.14.
Gold prices fell ahead of this week's inflation data. December-dated gold futures fell 0.6% to $4,165.80 per ounce.
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