With bank earnings, Apple’s iPhone event, and the start of Amazon Prime Day on the schedule, Tuesday promised fireworks for the stock market. Instead, they delivered yawns as investors wrestled with continued Covid headlines and no stimulus.
finished down 0.6%, while the
Dow Jones Industrial Average
declined 157.71 points, or 0.6%, and the
dipped 0.1%. Yes, it was a down day, but not a big one.
“Stocks remained remarkably stable in the face of the scary COVID headlines and the global risk selloff, and this relative strength is even more impressive due to the lack of a stimulus deal,” writes Gorilla Trades strategist Ken Berman.
The same can’t be said for the companies that were making news.
for instance, dropped 2.7% after releasing the details of its new iPhones. They were nice, but not exciting enough for a stock that had