Investing.com – Stocks ended Tuesday mixed, with declines in Google parent Alphabet and Apple holding down tech stocks overall, while lower interest rates enticed investors to look at utilities, consumer staples and related stocks.
The finished up 0.15% on the day. The S&P 500 rose 0.1%. The Nasdaq dropped 0.66%.
Alphabet (NASDAQ:) was off 7.5%, its biggest one-day loss since 2008, after revenue in its first-quarter report was $1 billion less than expected.
Apple (NASDAQ:) was off 1.9% ahead of a quarterly report expected to show a rare decline in earnings and revenue. In addition, some traders were waiting for the Federal Reserve’s decision on interest rates, due Wednesday afternoon, along with a press conference from Chairman Jerome Powell. The Fed is expected to leave rates .
The fell to 2.509% from 2.536% on Monday.
The Nasdaq and S&P 500 had both hit new highs as late as Monday as the market continued its strong rebound from the sharp slump in the fourth quarter of 2018.
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