Nvidia, Halliburton, Vistra, and More

• The Dow, S&P 500, and Nasdaq lost ground Tuesday afternoon, after Federal Reserve Chair Jerome Powell said in his first comments since the central bank cut interest rates last week that it faces a “challenging situation” ahead.

• The energy sector was one of the few that still gained, as rising oil prices helped lift shares of major oil producers.

Major U.S. equities indexes lost ground Tuesday afternoon, after Federal Reserve Chair Jerome Powell said the central bank faces a “challenging situation” ahead. The Dow, S&P 500, and Nasdaq pulled back after reaching record highs Monday.

The tech sector led losses, with Nvidia (NVDA), Amazon (AMZN), and Oracle (ORCL) among the S&P 500’s biggest decliners.

Vistra (VST) shares also fell following a downgrade from Jefferies, which argued the power company’s stock price is too high.

Meanwhile, the energy sector was one of the few that still gained, as rising oil prices helped lift shares of major oil producers like Halliburton (HAL), Baker Hughes (BKR), and Diamondback Energy (FANG).

Boeing (BA) shares also rose after the aircraft maker announced Uzbekistan Airways agreed to purchase as many as 22 of the company’s 787 Dreamliners.

Shares of Plug Power (PLUG) traded at all-time highs for the fifth-straight session after the hydrogen provider said its Georgia plant set a production record.

Gold prices climbed to a fresh record. The yield on the 10-year Treasury note was little changed. The U.S. dollar was up on the euro and yen, but lost ground to the pound. Most major cryptocurrencies traded lower.  

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