S&P Flat After Monday Selloff

The S&P 500 hovered around the flatline Tuesday as traders struggled to recover from sharp losses suffered in the previous session.

The Dow Jones Industrials lost another 20.57 points, to begin Tuesday’s session at 33,828.89.

The S&P 500 inched higher 0.97 points to 3,964.91.

The NASDAQ eked up 8.54 points to 11,058.04.

Amazon had a price advantage over 12 leading retailers in Profitero’s annual price comparison study and was the price leader in 14 of 15 categories, Fitzgerald pointed out. It tied with Chewy as a price leader in pet supplies, he said.

All U.S. markets declined Monday after protests in mainland China against the country’s zero-COVID policy started over the weekend. This led to worries over the potential for Chinese COVID protocols could once again hamper global supply chains.

Overnight, however, global markets seem to catch a reprieve as a Chinese official told reporters that 65.8% of people “over age 80” had received booster shots. On top of that, the government reported the first decline in COVID infections within mainland China in more than a week. This contributed to a rally in the Hong Kong and Shanghai markets.

On the data front, the latest reading on consumer confidence was set to release at 10 a.m., with more data on topics such as gross domestic product and jobs expected later in the week.

Prices for the 10-year Treasury fell back, raising yields to 3.73% from Monday’s 3.69%. Treasury prices and yields move in opposite directions.

Oil prices progressed $1.81 to $79.05 U.S. a barrel.

Gold prices recovered $10.90 to $1,766.20 U.S. an ounce.