- The Nasdaq fell 0.3% on Tuesday to close the session at 13,371.
- Apple shares rose slightly by 1.15% outperforming competitors Microsoft and Google.
- Johnson & Johnson beat competitors on high expectations with its next earnings release.
The US stock market surrendered earlier gains and fell in the final hour of trading overnight to close a second straight session in the red as fresh inflation data spooked investors, showing prices in March further accelerated to a new 40-year high.
The Dow Jones fell 0.26% to finish the trading day down roughly 90 points to close at 34,220 points.
The tech heavy NASDAQ faltered after an earlier advance, declining 0.3% to finish the day more than 40 points lower to close at 13,371. Apple stocks was one of the few shining lights closing up 1.15%, in what proved to be an all-around poor trading session.
One bitcoin is worth US$39,651 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 74.52 US cents.
Shares of Apple rose 1.15% to $167.66 overnight, with the stock's rise snapping a two-day losing streak. Apple outperformed some of its competitors including Microsoft Corp and Google after analysts forecasted that the tech giant will have minimal impact from supply issues caused by Covid-19 lockdowns in China. China has again initiated strict lockdowns with production halts in regions that are home to some of Apple's key supply chain partners.
Johnson & Johnson shares inched 0.03% higher overnight. Investors are hoping for solid results from the world's biggest maker of health care products, as it approaches its next earnings release on April 19. Analysts expect Johnson & Johnson to post earnings of $2.63 per share which would mark year-over-year growth of 1.54%.
And as the hospitality sector continues to struggle, robots in Japan on factory floors can carry out simple tasks or deliver food to restaurant patrons but researchers have unveiled a robot capable of performing the delicate task of peeling a banana without squashing the fruit inside.