HomeBusinessStock Market News Today:...

Stock Market News Today: Dow Slips, Nasdaq Edges Up; Yellow, Robinhood Stocks in Focus — Live Updates


Stocks extended their recent declines Thursday as a jump in bond yields weighed on the market’s appetite for risk.

Major U.S. indexes had been on a tear, with the S&P 500 ending July up almost 20% in 2023 after five consecutive months of gains. Some investors worried that left stocks vulnerable to a pullback, especially with interest rates rising and corporate earnings only expected to inch up for the year.

Now selling in the government bond market is boosting yields on longer-term Treasurys and eroding the case for stocks. The selling spread overseas, with losses today in Europe and Asia.

Stocks face another test after the close, when tech giants Amazon (AMZN) and Apple (AAPL) are due to report quarterly results.

In early afternoon trading:

The S&P 500 ticked down 0.2%, a day after the benchmark index posted its biggest loss since April. The Dow industrials were also lower, while the Nasdaq Composite was flat.

Government-bond prices fell, lifting yields. The yield on 10-year Treasury notes rose above 4.1%, after settling Wednesday at 4.077%, the highest end-of-day level since November.

Oil rose, with Brent crude above $84 a barrel and its U.S. counterpart around $81. Saudi Arabia said it is extending its oil production cut, sending crude prices higher.

Overseas stocks mostly retreated. The U.K.’s FTSE 100 and the Stoxx Europe 600 dropped, as stocks including semiconductor-maker Infineon Technologies, airline Deutsche Lufthansa and London Stock Exchange Group fell on quarterly results. Asian markets were broadly lower, but mainland Chinese stocks rose after survey data showed a pickup in services activity.

Some meme stocks continued their recent wild rides. Yellow, for one example, was up some 30% in the latest trading.



Source link

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

On the radar: Three Cabinet Secretaries to appear before Senators

Cabinet Secretaries Kithure Kindiki (Interior), Mithika Linturi (Agriculture) and...

Strus’ 59-foot buzzer beater lifts Cavs over Mavs

CLEVELAND — The best pass of Evan Mobley’s life, the...

Read Now

Stock futures inch lower Wednesday as investors await fresh inflation data: Live updates

Traders on the floor of the New York Stock Exchange on April 14, 2022.Source: NYSEStock futures ticked lower Wednesday as investors looked ahead to a key inflation report due later this week.Futures tied to the Dow Jones Industrial Average slipped 40 points, or 0.1%. S&P 500...

On the radar: Three Cabinet Secretaries to appear before Senators

Cabinet Secretaries Kithure Kindiki (Interior), Mithika Linturi (Agriculture) and Zacharia Njeru (Water) are scheduled to appear before the Senate plenary.The trio will appear to respond to questions from members. Kindiki is expected to provide a status update on investigations into the inter-communal clashes that occurred...

Strus’ 59-foot buzzer beater lifts Cavs over Mavs

CLEVELAND — The best pass of Evan Mobley’s life, the worst tackle of Caris LeVert’s and only the second-best buzzer beater to win a game in Max Strus’ nearly 28 years on this planet.This is what pandemonium looked like Tuesday night in Cleveland.Strus unleashed a 59-footer...

UAE vs Canada, ICC Cricket World Cup League 2, Live Score: Toss At 11:00 AM IST

UAE vs Canada Live Score: UAE will take on Canada in the 7th match of the ICC World Cup League 2 2023-2027. UAE will be keen to perform well and qualify for the ODI World Cup 2027. UAE have named a strong squad for the series,...

Apple kills its electric car project: sources

STORY: Apple has hit the brakes on its project to create an electric car a source told Reuters Tuesday its cancelling work on the idea altogether.Bloomberg , which also reported the development, said employees working on Apple’s EV will shift instead to a unit for AI.Apple...

Nintendo Sets Its Sights On Switch Emulator Yuzu In New Lawsuit

When he’s not paying off a loan to Tom Nook, Liam likes to report on the latest Nintendo news and admire his library of video games. His favourite Nintendo character used to be a guitar-playing dog, but nowadays he prefers to hang out with Judd the...

Royals mourn Prince Michael of Kent’s son-in-law – BBC News

By Sean CoughlanRoyal correspondent27 February 2024Updated 9 hours agoImage source, Lady Gabriella Kingston/ Buckingham PalaceA Buckingham Palace spokesman said that King Charles and Queen Camilla "join Prince and Princess Michael of Kent and all those who knew him in grieving a much-loved member of the family".He...

3 keys to BYU’s stunning 76-68 win over No. 7 Kansas

LAWRENCE, Kansas — BYU picked up its biggest win in the Mark Pope era Tuesday night at Phog Allen Fieldhouse, stunning No. 7 Kansas 76-68 in a pivotal Big 12 game.The Cougars (8-7, 20-8) trailed by as many as 12 points in the second half before...

Ole Anderson, Original Member of Four Horsemen Wrestling Team, Dies at 81

Ole Anderson, a professional wrestler who starred as an original member of the Four Horsemen team in the 1980s and was later critical of the sport’s corporate greed, died on Monday. He was 81.The Carter Funeral Home in Winder, Ga., said that Mr. Anderson had died...

Toyota Recalls Over 600,000 Trucks and SUVs Over Safety Concerns

More than 600,000 Toyota pickup trucks and SUVs in the United States were voluntarily recalled over the past week because of different issues that could increase the risk of crashes, the vehicle manufacturer said.The first announcement, on Feb. 21, stated that about 280,000 vehicles, including Toyota...

Pak-Iran gas pipeline: Cabinet defers plan to appeal against US sanctions

The caretaker federal cabinet has approved the postponement of the plan to file an appeal against the US sanctions under the Pak-Iran Gas Pipeline project ...