US market opened largely unchanged on Tuesday as it shrugged off fresh concerns on global trade uncertainty.
The benchmark S&P 500 index was up 0.09% to 5,941.34. The Dow Jones Industrial Average also rose 0.09% to 42,340.17.
The Nasdaq 100 index also gained 0.19% to 19,278.97.
The markets had started June on a positive note as it shrugged off early weakness to close out in green on Monday.
The Organisation for Economic Co-operation and Development (OECD) cut the growth forecast for the US market due to risks from US President Donald Trump’s tariffs.
Meanwhile, the EU criticised Trump’s move to double the tariffs on steel and aluminum, which undermines their negotiations, and said it is prepared to impose countermeasures on the US.
Dollar General and Constellation Energy were among the top gainers on the S&P 500, rising more than 13% and 5%, respectively.
Nvidia and Tesla were among the top gainers in the Nasdaq 100 index, with more than a 1% gain.
Alphabet and Warner Bros. Discovery were among the top losers with 1% and 2% drawdown on Nasdaq.
Nvidia was the top Dow Jones gainer while Coca-Cola was the top loser.
US Treasury yields fell as investors also moved to safer assets. The 10-year US Treasury yield fell 5 basis points to 4.414%.
Slowing growth
The OECD slashed US growth expectations to 1.6% in 2025 from the 2.2% growth it predicted in March. For 2026, it sees a 1.5% expansion.
The organization also projected a slower growth for the global economy in the year due to the tariff uncertainties. It pegged global economic growth at 2.9% for 2025 and 2026.
OECD cited the forecast revision to fallout from the tariffs, which will lead to increased economic policy uncertainty, a slowdown in net immigration, and a smaller federal workforce.
It sees the slowdown concentrated among the US, Canada, and Mexico, and gave other economies a smaller revision.
OECD also expects US inflation to rise close to 4% by the end of 2025.
Top stocks
Dollar General stock rose 13% early in the session after the company increased its annual sales outlook and said the guidance is after factoring in the current high tariff rates until mid August.
Constellation Energy shares were up 5% as it announced a 20-year deal with Meta to supply nuclear energy.
Meta will buy around 1.1 gigawatts of energy from Constellation’s Clinton Clean Energy Center in Illinois beginning in June 2027.
Him and Hers Health Inc. popped up 14% after it announced it would acquire the European telehealth company Zava.
Through the deal, Him and Hers’ customer base will grow by 50%, adding 1.3 million customers to the company, which already has a customer base of 2.4 million.
Pinterest jumped 2% after JP Morgan raised its rating to “overweight”.
JP Morgan also downgraded Bumble to underweight from neutral. The stock fell 6% afterwards.
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