The Dow Jones index declines for the second session in a row
US indices closed mixed on Tuesday, coinciding with a decline in bond yields after data showed a decline in job opportunities in the United States in October to the lowest level since the beginning of 2021, indicating a slowdown in the labor market.
This data led to an increase in the likelihood of an interest rate cut in March to 65% by the Federal Reserve.
Performance of major US indices:
The Dow Jones Index fell by about 0.2%, equivalent to 75 points, in Tuesday’s session, recording the second daily loss in a row.
The S&P 500 index also fell by about 0.05% to settle above 4,560 points.
While the Nasdaq Composite Index rose by 0.3%, supported by the rise in major technology stocks such as Apple, Nvidia, and Amazon, which benefited as bond yields fell.
Nvidia shares
Nvidia stock rose 2.3% in Tuesday's session, rebounding from its lowest levels in a month, supported by falling bond yields, with the company adding $26 billion to its market value in one day.
The CEO of the American chip maker, Jensen Huang, revealed that his company will make every effort to supply Japan with artificial intelligence processing units in light of the greatly increased market demand.
AT&T shares
AT&T shares jumped more than 3% in Tuesday's session to reach their highest levels in 7 months, with the company adding $4 billion to its market value in one day.
The company said yesterday that it plans to use so-called ORAN technology, which is characterized by low cost, for 70% of its wireless network traffic in the United States by late 2026.
On the other hand, AT&T partnered with Ericsson to launch a new communications network in the United States, explaining that it will spend $14 billion for Ericsson to manufacture fifth generation network equipment for the new network.
