S&P 500, Dow Extend Losses From Elevated Yield Pressure — SPCX, TGT, AAPL, MU, NTAP In Focus

• The S&P 500 ended Tuesday 0.2% lower, the Nasdaq 100 rose 0.2%, and the Dow Jones Industrial Average fell 0.3%.
• Trump administration ordered the release of oil from emergency reserves. 
• Brent crude eased and settled near $103.

The S&P 500 and Dow Jones ended Tuesday lower as they continued to reel under the pressure of elevated Treasury yields.

The S&P 500 ended Tuesday 0.2% lower, the Nasdaq 100 added 0.2%, and the Dow Jones Industrial Average fell 0.3%. The Russell 2000, which tracks small-cap stocks, fell 0.4%.

The SPDR S&P 500 ETF (SPY) was down 0.2%, the SPDR Dow Jones Industrial Average ETF (DIA) slipped 0.2%, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) added 0.2%. 

Meanwhile, the VanEck Semiconductor ETF (SMH) and the iShares Semiconductor ETF (SOXX) rose about 1.5%, tracking gains in Broadcom (AVGO), Micron Tech (MU) and Advanced Micro Devices (AMD). The broader Vanguard Information Technology ETF (VGT) added about 0.1%.

Retail sentiment on Stocktwits for QQQ, SPY, and DIA was ‘bullish’ with ‘high’ message volumes.

US Market Drivers

The U.S. Department of Energy (DOE) today issued a Request for Proposal (RFP) for an exchange of up to 40 million barrels of crude oil from the Strategic Petroleum Reserve (SPR), continuing DOE’s execution of the 172-million-barrel release previously announced by President Trump in coordination with the International Energy Agency (IEA) member nations’ overall 400-million-barrel commitment. 

Oil prices eased slightly after news of the oil-reserve release, dropping to $103 a barrel. 

Meanwhile, yields continued their march higher amid growing anxieties over stubborn inflation, elevated government spending, and massive corporate debt issuance to fund AI infrastructure. In response, market pricing now reflects expectations for multiple interest rate increases throughout the coming year.

New York Fed President John Williams said an additional rate increase might be necessary this year to curb inflationary pressures, though he noted policymakers face no immediate pressure after this month’s benchmark boost. 

“The conflict in the Middle East and the implications for forward inflation remain the primary macro narrative and are likely to dictate price action in U.S. rates for the foreseeable future,” Ian Lyngen at BMO Capital Markets told Bloomberg. 

Key Trending Stocks

Artificial intelligence developer Anthropic has signed compute contracts with SpaceX worth up to $84.5 billion, nearly double the initial agreement, and expects to spend at least $518 billion in total over the next decade to build out its infrastructure capacity, according to details disclosed in a confidential initial public offering (IPO) prospectus viewed by Reuters.  

Target Corp. (TGT) announced Tuesday that it is lowering prices on nearly 2,000 home, apparel, and accessories items as holiday shopping gets underway, adding to more than 10,000 price reductions the retailer has made over the past year. 

Apple Inc. (AAPL) Chief Executive John Ternus is reportedly considering changes to the company’s management structure and product development process as part of an effort to make the company more engineering-focused, faster and leaner. 

NetApp Inc. (NTAP) share price hit record highs after the company announced a series of high-profile strategic partnerships on Tuesday during its flagship INSIGHT 2026 conference, signaling an aggressive push to remove storage bottlenecks for artificial intelligence and enterprise cloud deployments. 

Micron Technology (MU) shares gained on Tuesday, with JPMorgan seeing a “constructive” setup for the company heading into its fourth-quarter earnings tomorrow.

For updates and corrections, email newsroom[at]stocktwits[dot]com.