US stock markets presented a mixed performance on Tuesday, closing with varying results by the end of trading in New York. The Dow Jones Industrial Average reached 44,495 points, marking a 0.9% increase compared to the previous day’s closing value.
Earlier in the session, the broader S&P 500 index briefly dipped, registering approximately 6,200 points, a decline of 0.1%. Simultaneously, the Nasdaq 100 stood at around 22,478 points, reflecting a 0.9% decrease.
Tesla shares experienced a considerable downturn during the day. Market analyst Jochen Stanzl of CMC Markets attributed this to the escalating dispute between Elon Musk and Donald Trump. He noted that earlier hopes that Musk’s prior connections to Trump might confer advantages to Tesla have dissipated and the potential loss of purchase incentives for electric vehicles is expected to negatively impact the company. Stanzl suggested that Musk’s earlier actions seemingly intended to support Trump, have backfired.
The Euro strengthened slightly against the US dollar, trading at $1.1793, which equates to €0.8480 per dollar.
Gold prices saw a significant increase, fetching $3,338 per fine ounce, a rise of 1.1%. This translates to €90.99 per gram.
Crude oil prices also trended upward. Brent North Sea crude was priced at $67.34 per barrel, representing a 60-cent or 0.9% increase compared to the previous day’s closing price.
