Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 18, 2021. Asian shares rose Tuesday, partly on bargain-hunting from the recent global market falls amid continuing pessimism about the coronavirus pandemic.
A currency trader walks near screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 18, 2021. Asian shares rose Tuesday, partly on bargain-hunting from the recent global market falls amid continuing pessimism about the coronavirus pandemic.
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 18, 2021. Asian shares rose Tuesday, partly on bargain-hunting from the recent global market falls amid continuing pessimism about the coronavirus pandemic.
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 18, 2021. Asian shares rose Tuesday, partly on bargain-hunting from the recent global market falls amid continuing pessimism about the coronavirus pandemic.
FILE – The New York Stock Exchange is seen in New York, Monday, Nov. 23, 2020. Stocks are wobbling between small gains and losses in early trading on Wall Street Tuesday, May 18, 2021 as the market continues to be pulled between concerns about the potential for inflation and the hopeful signs that more parts of the economy are reopening.
In this photo provided by the New York Stock Exchange, specialist Peter Mazza works at his post on the floor of the New York Stock Exchange, Tuesday, May 18, 2021. Stocks were mixed, moving between small gains and losses on Tuesday morning, as investors remain focused on the possibility for more inflation later this year as well as the economic recovery as the coronavirus pandemic comes to a close.
In this photo provided by the New York Stock Exchange, traders work on the floor of the NYSE, Tuesday, May 18, 2021. Stocks were mixed, moving between small gains and losses on Tuesday morning, as investors remain focused on the possibility for more inflation later this year as well as the economic recovery as the coronavirus pandemic comes to a close.
In this photo provided by the New York Stock Exchange, traders work on the floor of the NYSE, Tuesday, May 18, 2021. Stocks were mixed, moving between small gains and losses on Tuesday morning, as investors remain focused on the possibility for more inflation later this year as well as the economic recovery as the coronavirus pandemic comes to a close.
Stocks moved between small gains and losses Tuesday as investors focused on the possibility of more inflation later this year and economic recovery as the coronavirus pandemic eases.
The S&P 500 was down less than 0.1% as of 12:59 p.m. Eastern. The Dow Jones Industrial Average fell 66 points, or 0.2% to 34,261 and the technology-heavy Nasdaq rose 0.5%. The Russell 2000 index of small company stocks rose 0.5%.
Gains by technology and healthcare stocks were offset by a drop in banks and energy companies.
Retailers are among the last companies to report first-quarter results. Walmart rose 2.3% after the giant retailer’s results beat estimates as online shopping saw significant growth from a year ago, driven in part by Americans buying online in the pandemic.
The broader market made solid gains early in the year as investors bet on an economic recovery fueled by widespread vaccinations. Expectations were high for corporate earnings and the latest round of results has been surprisingly good. Wall Street is now digesting that growth and shifting to a more cautious view.
“Some sort of pause was always inevitable,” said Ross Mayfield, investment strategist at Baird. “Eventually markets see a more challenging landscape ahead and general uncertainty.”
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