Nasdaq Composite closes up 1.2% but Dow ends Tuesday flat as banks and industrials slump

Technology stocks finished sharply higher Tuesday, helping the Nasdaq Composite rise, but financials and consumer staples weighed on the blue-chip Dow industrials. The Dow Jones Industrial Average DJIA, +0.00% finished flat at around 27,996, the S&P 500 index SPX, +0.52% gained 0.5%, managing to overcome a bout of weakness late in the session coming from financials XLF, -1.35%, and consumer staples XLP, -0.13%. The Nasdaq Composite Index COMP, +1.20% closed the strongest among its equity benchmarks, up 1.2% at 11,190. The moves for stocks on the session come ahead of Federal Reserve, which started its policy-setting meeting earlier in the day. In corporate news, Apple Inc. AAPL, +0.16% held its first virtual-only product reveal, where the Cupertino, Calif., tech behemoth showed off its latest smartwatch, and an updated lineup of its iPad tablets. Shares of Apple finished the session up 0.2%.

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