Posted 1/2/2024, 5:32:39 PM
Stocks Mixed as Apple Drags Tech Lower; Oil, Bitcoin Rally on Geopolitical Tensions
- US stocks mostly fell Tuesday afternoon, with the S&P 500 down 0.5%, Dow up 0.2%, and Nasdaq down 1.3%
- The rally in stocks stalled after Apple shares fell 1.7% following a downgrade from Barclays citing iPhone demand concerns
- This week's economic updates, including Friday's jobs report, could test the rally driven by hopes of rate cuts in 2024
- Oil prices rose over 2% on tensions after Iran sent a warship in response to the US Navy sinking Houthi boats
- Bitcoin topped $45,000 for the first time since early 2022 on hopes of a spot bitcoin ETF approval, with crypto stocks popping