Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures, as Fitch Ratings downgraded the U.S. long-term debt rating. Advanced Micro Devices (AMD) and ELF Beauty (ELF) headlined another big night of earnings.
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The stock market rally was relatively quiet for a second straight day. The major indexes were narrowly mixed while the 10-year Treasury yield popped back above 4%, nearing 2023 highs.
Caterpillar (CAT) soared to a record high on earnings, buoying the Dow Jones. Arista Networks (ANET) skyrocketed from the bottom of a base into a buy zone. A number of leading chip stocks tumbled near the open following earnings. Some slashed or erased losses but others were still down sharply at the close, including ALGM stock.
Tesla stock fell modestly Tuesday amid a new NHTSA safety probe. Microsoft (MSFT) rose slightly. Both megacaps are continuing to…
