๐&๐ ๐๐๐, ๐๐๐ฌ๐๐๐ช ๐ ๐๐ฅ๐ฅ ๐๐จ๐ซ ๐๐ซ๐ ๐๐ญ๐ซ๐๐ข๐ ๐ก๐ญ ๐๐๐ฌ๐ฌ๐ข๐จ๐ง ๐๐ฌ ๐๐ซ๐๐๐ฌ๐ฎ๐ซ๐ฒ ๐๐ข๐๐ฅ๐๐ฌ ๐๐ฎ๐ซ๐ ๐
Major stock indexes pulled back Tuesday, with the S&P 500 and Nasdaq Composite ending lower for the third straight session, as the 10-year Treasury yield hit its highest level since early last year.
The tech-heavy Nasdaq, blue-chip Dow Jones Industrial Average, and benchmark S&P 500 closed down 0.8%, 0.7%, and 0.7%, respectively. At its low for the day, the Nasdaq was off 1.5% from Monday's close.
Yesterday, tech shares fell to start a busy earnings week, with memory stocks among the biggest decliners, as oil prices rose and Treasury yields extended their advance.
"At what level will investors decide itโs time to get back in?" Padhraic Garvey, Head of Global Debt and Rates Strategy at ING, said in written commentary. "The problem is that any particular level is fraught with danger, as it is slavish to the extent of closure of the Strait of Hormuz, and that remains a large unknown."
Oil prices paused their advance after President Donald Trump wrote on Truth Social Monday afternoon that the U.S. was asked by Middle Eastern allies to hold off on a planned military attack of Iran set for today, although they remain elevated. West Texas Intermediate futures, the U.S. crude oil benchmark, recently were 0.1% lower at $108.60 a barrel, while front-month contracts of Brent crude, the global benchmark, settled down 0.7% at $111.28.
Gold futures pulled back 1.5% to $4,490 an ounce. Bitcoin was trading around $76,800, little changed over the past 24 hours. The U.S. dollar index, which tracks the value of the greenback against a basket of foreign currencies, was up 0.1% to 99.32.
Shares of all the Magnificent Seven companies but Apple (AAPL) closed lower Tuesday, a day after they finished mixed. Those of Nvidia (NVDA), which is slated to release its highly anticipated quarterly results after markets close Wednesday, ended down 0.8%. Alphabet (GOOGL) shares declined 2.3% as the two-day Google I/O developers event kicked off.
Walmart (WMT) shares set intraday and closing records Tuesday, two days before it reports quarterly results. And in post-earnings moves, shares of sporting goods company Amer Sports (AS) and home-improvement retailer Home Depot (HD) advanced 2% and 0.9%, respectively.
Have a great trading day!... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
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