Most U.S. stocks slipped as Treasury yields climbed again on rising expectations that interest rates may stay high for a while.
The S&P 500 fell 0.2% Tuesday. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite fell 0.1%.
UnitedHealth helped support the market after jumping on a stronger-than-expected profit report. But the majority of stocks weakened after two top officials at the Federal Reserve warned it may not cut interest rates for a while after inflation reports this year came in worse than expected. The two-year Treasury yield briefly climbed as high as 5% before paring its gain.
On Tuesday:
The S&P 500 fell 10.41 points, or 0.2%, to 5,051.41.
The Dow Jones Industrial Average rose 63.86 points, or 0.2%, to 37,798.97.
The Nasdaq composite fell 19.77 points, or 0.1%, to 15,865.25.
The Russell 2000 index of smaller companies fell 8.23 points, or 0.4%, to 1,967.48.
For the week:
The S&P 500 is down 72 points, or 1.4%.
The Dow is down 184.27 points, or 0.5%.
The Nasdaq is down 309.84 points, or 1.9%.
The Russell 2000 is down 35.70 points, or 1.8%.
For the year:
The S&P 500 is up 281.58 points, or 5.9%.
The Dow is up 109.43 points, or 0.3%.
The Nasdaq is up 853.90 points, or 5.7%.
The Russell 2000 is down 59.60 points, or 2.9%.
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