Morning Report: US sharemarkets were mixed on Tuesday

By Tom Piotrowski | More Articles by Tom Piotrowski

US Treasury Secretary Janet Yellen said, “It may be that interest rates will have to rise somewhat to make sure that our economy doesn’t overheat.” The comments exacerbated a sell-off in major technology shares with Apple (-3.5%), Tesla (-1.7%) and Amazon (-2.2%) all lower on valuation concerns. Pfizer shares rose by 0.3% after posting quarterly results that beat analyst expectations. Shares of CVS Health gained 4.4% after raising its 2021 profit view. Research and advisory company Gartner’s shares jumped 14.2% after delivering better-than-expected first-quarter earnings. The Dow Jones index rose by 20 points or 0.1%. But the S&P 500 index lost 0.7% and the Nasdaq index dropped 262 points or 1.9%.