S&P 500; US Indexes Fundamental Daily Forecast – NASDAQ Trying to Rebound; Dow, S&P Treading Water

The major U.S. stock indexes are trading mixed on Tuesday. Investors have basically flipped the script from the past few days by selling the blue chip Dow and benchmark S&P 500 stocks while buying the beat-up NASDAQ tech stocks.

In the cash market at 2000 GMT, the Dow Jones Industrial Average is trading 24211.82, down 78.23 or -0.32%. The S&P 500 Index is at 2633.96, down 5.48 or -0.21% and the NASDAQ Composite is at 6779.42, up 4.05 or +0.66%.

Technology stocks are rebounding from a sell-off that started last week with Facebook, Amazon, Netflix and Google-parent Alphabet all rising at least 1 percent.

Information stocks are helping to limit losses in the S&P 500 and Disney stock is weighing on the Dow.

Investors are still eying the tax reform negotiations between the Senate and the House. Speculators are betting the bill becomes law before Christmas. The recent price action indicates that the proposed changes to the tax code would help banks and financials more than tech companies, since they currently pay a higher effective tax rate.

Investors are also looking ahead to a potential government shutdown on December 8. According to reports, if Congress fails to craft a deal on government spending, the federal government could close until a deal is struck.