Nasdaq and S&P500: Tech Stocks Weigh on US Indices as Fed Minutes Loom Today

• Energy sector leads with 0.49% gain driven by Middle East tensions while tech stocks drop 0.28%, with chip makers like Sandisk (-2.09%) and Western Digital (-1.77%) among major decliners
• Fed minutes expected to reveal internal debate between policymakers wanting additional easing versus those concerned about inflation risks, with traders pricing in a hold at January's meeting
• Precious metals volatility spills into equities as silver futures surged 7% before retreating, while 10-year Treasury yields edge up to 4.13% ahead of Fed release

Market Summary:

US equity indices opened mixed Tuesday, with the Dow down 88.54 points (-0.18%), S&P 500 off 6.17 points (-0.09%), and Nasdaq declining 31.22 points (-0.13%), primarily due to tech sector weakness (-0.28%). The energy sector led gains (+0.49%) amid Middle East tensions driving oil prices higher, while consumer discretionary stocks fell 0.49%.

Key Movers and Corporate News:

Healthcare stocks outperformed, with Molina Healthcare (+3.735%), UnitedHealthGroup (+2.143%), and Centene (+1.936%) leading gains. Intel rose 1.677%, while chip makers SanDisk (-2.088%) and Western Digital (-1.771%) declined. Notable corporate developments included Applied Digital spinning off its cloud business to merge with Ekso Bionics, Meta acquiring AI startup Manus, and Boeing securing an $8.58 billion US Air Force contract for Israeli fighter jets. SoftBank reportedly fully funded a $40 billion OpenAI investment.

Market Drivers:

Precious metals showed significant volatility, with silver futures jumping 7% before retreating. The 10-year Treasury yield rose to 4.13% ahead of Federal Reserve minutes release at 19:00 GMT. Markets expect the minutes to reveal debate over December's 25 basis point rate cut, with CME FedWatch pricing in a hold at 3.50%-3.75% for January's meeting.

Technical Analysis:

All major indices remain in uptrends above 50-day moving averages. The S&P 500 hit a record high of 6945.77 Friday, showing the strongest technical position. The Dow faces resistance at 48782.00-48886.86, while the Nasdaq appears weakest with triple tops around 23665.15-24019.99, indicating near-term vulnerability despite overall bullish trends.