Tech stocks bounced back Tuesday, helping lift the Nasdaq. But as Fred Katayama reports, rising tensions over North Korea capped gains.
Wall Street making a modest advance Tuesday. Beaten up tech stocks bounced back from Monday's beating. Apple leading the charge. Fed Chair Janet Yellen's comments heightened expectations of an interest rate hike in December as rising tensions between the U.S. and North Korea capped gains. Invesco's Kristina Hooper: SOUNDBITE: KRISTINA HOOPER, GLOBAL MARKET STRATEGIST, INVESCO, (ENGLISH) SAYING: "There are a lot of forces right now that are moving markets in different directions. We still have negative overhang from tensions with North Korea, and that rhetoric really ramped up a lot. So that was a negative pressing down on stocks. At the same time, we have Janet Yellen relatively postive, right. If anything, we'll see slightly slower increase in rates." Apple shares rose for the first time in four sessions after Raymond James raised its price target. Equifax shares rose. CEO Richard Smith retired Tuesday. It comes in the wake of the massive cyberattack that affected up to 143 million consumers. Darden shares dropped. The operator of restaurants like Olive Garden and Capital Grille said the impact of Hurricane Irma on its sales and per share earnings will be double that of Hurricane Harvey. More signs those two hurricanes could hurt economic growth this quarter: Consumer confidence fell in September, and home sales dropped to an eight-month low in August. Shake Shack fell. Wedbush Securities downgraded the upscale burger chain to "neutral" from "outperform". In Europe, the markets finished flat. Gains in non-cyclical stocks gained offset a drop in healthcare shares.