Stock Market Today: Dow Ends Lower After Fed Minutes; Two Biotech Names Tank (Live Coverage)

The Dow Jones Industrial Average and other major stock indexes ended Tuesday’s session slightly lower, sticking in negative territory after the Federal Reserve’s December meeting minutes suggested policymakers are leaning toward standing pat on interest rates. Among movers, Palantir Technologies (PLTR) and Tesla (TSLA) were losers on the stock market today.

The Dow closed the day 0.2% lower. The S&P 500 gave back 0.1%, marking a third straight loss as six of its 11 sectors fell. The Nasdaq composite shed 0.2%. Small caps struggled, leaving the Russell 2000 lower by 0.7%.

Volume was higher on the Nasdaq exchange and lower on the New York Stock Exchange vs. Monday, according to preliminary data.

On the Nasdaq exchange, falling stocks outpaced rising issues by 3-to-2. But on the NYSE, winners slightly edged out losers.

Elsewhere, the 10-year Treasury yield inched up one basis point to 4.13%. Oil prices slid to around $58 a barrel. Bitcoin rose to trade past $87,800.

Among exchange traded funds, the Invesco QQQ Trust (QQQ) fell 0.2% and the SPDR S&P 500 ETF (SPY) shaved off 0.1%.

Nvidia retreated 0.4%, while Palantir lost 1.8%. Tesla reversed lower by 1.2%.

Chip Services Stock Teases Investors

IBD Stock Of The Day, Nova (NVMI) rose 0.6% and traded around the 338.35 buy point of a cup-with-handle base, but couldn’t fully break out. The IBD 50 and Tech Leaders stock is on pace for three straight weeks of gains and has climbed 71% this year.

The company sells services including metrology and process control to the chip industry. Nova holds a best-possible 99 IBD Composite Rating and a 97 Earnings Per Share Rating.

The two biggest losers on the IBD 50 included biotech names AnaptysBio (ANAB) and Rhythm Pharmaceuticals (RYTM).

AnaptysBio stumbled 5.3% after reaching a level not seen since August 2019 on Monday. Rhythm Pharmaceuticals sank 5.1% and pulled back to its 50-day line.

3:09 p.m. ET

Fed Minutes Suggest Rates May Remain Steady

The press release and minutes from the Federal Open Market Committee Dec. 9-10 meeting were released at 1 p.m. ET, but investors offered little reaction to its contents.

Some participants in the meeting said they felt that after the latest quarter-point rate cut in December, “it would likely be appropriate to keep the target range unchanged for some time.”

The minutes went on to say: “The staff’s inflation forecast for 2025 and 2026 was a little lower, on balance, than the one prepared for the October meeting but similar for 2027 and 2028.”

Most participants commented that core inflation had been pushed higher due to tariffs. But many staff members see the effects of higher prices due to tariffs waning.

“After 2025, GDP growth was expected to remain above potential through 2028 as the drag from higher tariffs waned and fiscal policy and financial market conditions continued to support spending,” the minutes said. “Tariff increases were expected to continue to put upward pressure on inflation this year and next.”

1:46 p.m. ET

AXT Spikes Up

AXT (AXTI) soared more than 11% in heavy volume. Shares recouped Monday’s 5.1% drop and went on to hit a new high before trimming gains. On Monday, the semiconductor materials company announced a common stock offering of more than 7 million shares to be priced at $12.25 apiece.

Meanwhile, Rocket Lab (RKLB) led the IBD 50 by rising more than 3%, following two declining sessions. Shares of the rocket-launching company are extended from a cup-with-handle base with a 65.18 entry point.

12:56 p.m. ET

Stock Market Today: Boeing Climbs Higher, China Names Rally

Boeing (BA) led the Dow with a 2% increase. Shares powered up on news it landed an $8.6 billion contract with the U.S. Department of Defense to provide up to 50 F-15 fighter jets to Israel. The aerospace and defense stock is on track for six straight weeks of gains.

Boeing stock is in a long, choppy consolidation pattern with a 242.69 buy point. Its relative strength line has been rising sharply since late November.

In other news, some China stocks acted strongly including Baidu (BIDU) with a jump of nearly 5%. The internet search stock is on pace for three straight days of gains and is working its way up a consolidation pattern with an official buy point at 149.51, according to IBD MarketSurge chart analysis.

China electric vehicle stocks Nio (NIO) and XPeng (XPEV) saw robust gains. XPeng popped more than 5% and tested its 50-day moving average, seeking support.

Nio bolted nearly 5% higher in hefty volume and is closing in on its 50-day line.

11:48 a.m. ET

These Precious Metals Stocks Claw Back

Some precious metals stocks were rebounding after sliding with gold and silver prices Monday. Metals prices tumbled Monday after the Chicago Mercantile Exchange imposed higher margin requirements for metals trades following last week’s price rallies.

On Tuesday, exchange-traded fund iShares Silver Trust (SLV) jumped nearly 5% after plunging more than 7% a day earlier. Shares are around 3% off their record high of 71.22 reached last Friday.

IBD 50 component Aura Minerals (AUGO) recovered more than 2% of Monday’s 8.1% drop. Shares are climbing back toward their all-time high of 54.30, also reached on Dec. 26. The stock had already hit the 20% profit zone from a cup base with a 41.04 buy point.

Other IBD 50 names making up ground included AngloGold Ashanti (AU), with a 2.1% pop, and First Majestic Silver (AG), with a 1.8% rebound. First Majestic is extended from a deep cup base buy zone up to 16.47.

Gold Fields (GFI) rose 1.8% and retook its 21-day line after sinking more than 6% Monday. Shares attempted to break out of a cup base with a 47.18 buy point on Dec. 22, but the breakout faded.

10:28 a.m. ET

Stock Market Today: Applied Digital, Ekso In Business Tie-Up

Applied Digital (APLD) advanced around 1% on news late Monday it entered into a nonbinding term sheet for a proposed business combination of its cloud computing business with Ekso Bionics Holdings to form a new corporation named ChronoScale. Applied Digital would spin off its cloud business and own approximately 97% of the combined company if the deal closes.

Shares of Applied Digital bumped up to their 21-day exponential moving average but remain below their 50-day moving average.

Applied Digital is expected to report its fiscal second-quarter results on Jan. 7. Applied Digital designs and builds data centers and offers services for artificial intelligence, cloud, networking and blockchain workloads.

Ekso Bionics (EKSO) rocketed more than 55% in huge volume on the Applied Digital news. Shares gapped up above a consolidation pattern with a 5.70 buy point. But the stock has been a laggard with its 40% decline this year. Ekso designs and makes industrial equipment and rehabilitation medical devices.

9:47 a.m. ET

Nasdaq-100 Winners, Losers: ASML, Shopify

Among the Nasdaq-100 index stocks, ASML (ASML) and Intel (INTC) rallied more than 1% each, making them some of the best performers just after the market open.

Meanwhile, Workday (WDAY) and Shopify (SHOP) declined around 1% apiece in morning action.

9:08 a.m. ET

Dow Jones Movers: JPMorgan, Amazon, Apple

Inside the Dow blue chip index, JPMorgan Chase (JPM) and Nike (NKE) rose modestly in premarket trading.

On the downside, Amazon (AMZN) and Apple (AAPL) edged lower ahead of the market open.

8:25 a.m. ET

Stock Market Today: Meta Purchases AI Agent

Meta Platforms (META) shares rose modestly premarket Tuesday after the company announced the acquisition of artificial intelligence agent startup Manus in a deal with a reported value of more than $2 billion.

The Facebook parent closed Monday about 17% off its 52-week high, below its long-term 200-day moving average.

8:10 a.m. ET

Palantir, Tesla Bounce

Palantir stock bounced 0.5% Tuesday morning, looking to rebound from Monday’s 2.4% decline. Shares remain below their 190.39 cup-with-handle entry, as they pull back to their 50-day moving average.

Tesla stock also climbed 0.5% in morning trading, looking to snap a four-day losing streak. Shares are below their recent buy point at 474.07 and the 21-day line.

Stock Market Today: Fed Minutes

The release of the minutes from the Dec. 10 Fed meeting is scheduled for 2 p.m. ET. At that meeting, the Fed cut its benchmark interest rate, as expected, while penciling in one further cut for 2026.

Meanwhile, Fed Chair Jerome Powell downplayed inflation concerns and said that employer payrolls are likely shrinking, despite what the data says.

Currently, Fed funds futures traders put the chances of a quarter-point cut at the Jan. 28 meeting at just above 16%.

Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jone s Industrial Average and the stock market today.

Follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.

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