(News Bulletin 247) – The New York Stock Exchange is moving in mixed order on Tuesday, the heaviness of banking stocks weighing on the Dow Jones while modest buybacks are pulling the Nasdaq up.

At the end of the morning, the Dow index lost 0.3% to 34,376.9 points, while the Nasdaq Composite gained 0.4% to 13,546.5 points.

The S&P financial sector index dropped 0.5%, the sharpest decline of the 11 major sectors in the index, in reaction to the decision by the S&P Global agency to downgrade its rating on several regional establishments.

Within the Dow Jones, JPMorgan Chase lost 1.4%, Goldman Sachs 0.8% and American Express 0.6%.

Like yesterday, the rating is mainly driven by a recovery in technology stocks after three weeks of decline for the Nasdaq, a decline of nearly 6% in the index since the beginning of August.

The rise of the ‘techs’ thus outweighs the continued tensions in the bond compartment, where the trend continues to deteriorate.

After reaching a new 16-year high, above 4.36%, the yield on ten-year Treasuries fell back a little, towards 4.33%, even though only 15.5% of investors believe in a rate hike in September.

The only economic indicator of the day, sales of existing homes in the United States fell 2.2% last month compared to June, to 4.07 million at an annualized rate and in seasonally adjusted data (CVS).

The median selling price reached $406,700, up 1.9% year-on-year.

On the value side, Hasbro climbed 7% after encouraging comments from BofA analysts, who believe that the market underestimates the value of the toymaker’s intellectual property.

Nvidia fell 2%, investors preferring to take profits on the eve of the publication of its quarterly results, while the title has tripled in value this year.

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