Debt Ceiling Drama Weighs on Stock Markets
The stock market rally retreated on Tuesday, with several leading groups suffering significant losses. Debt-ceiling talks continue with no deal imminent, and the recent uptrend in Treasury yields and the U.S. dollar may be finally weighing on stocks. Meanwhile, several companies reported earnings, with Palo Alto Networks rising on solid Q3 results, while New Relic tumbled on lower guidance. PTC Therapeutics dived on disappointing clinical trial data. The market rally has been uneven in recent weeks, and investors should pay attention to what the market is doing right now.