REUTERS: The S&P 500 and Dow Jones indexes eased on Tuesday, handing back some gains from a strong rally in the previous session, as investors digested a mixed set of quarterly results from retailers including Home Depot and Walmart.
"Home Depot's earnings report shows we shouldn't assume businesses deemed essential with a strong online presence are entirely immune from the effects of the virus," said Mike Loewengart, managing director of investment strategy at E*TRADE Financial Corp. The benchmark index jumped more than 3per cent on Monday, boosted by promising early stage data for a potential COVID-19 vaccine and Federal Reserve Chair Jerome Powell's pledge to support the economy as needed until the current crisis has passed.Attention now turns to testimony by Powell and U.S. Treasury Secretary Steven Mnuchin before the Senate Banking Committee about the government's handling of its massive economic response to the health crisis.
At 9:57 a.m. ET, the Dow Jones Industrial Average was down 136.92 points, or 0.56per cent, at 24,460.45, the S&P 500 was down 5.92 points, or 0.20per cent, at 2,947.99, and the Nasdaq Composite was up 33.17 points, or 0.36per cent, at 9,268.00.
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