Stocks close mixed, 10-year yield sits near 16-year high: Stock market news today
US stocks close mixed with Nasdaq Composite in positive territory, while Treasury yields remain a focus for investors.
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Summary: U.S. markets end mixed with Nasdaq up over 1% due to the surge in technology stocks, Asian markets show positive gains with Japan's Nikkei 225 rising 1.05%, and European markets are higher as the tech sector gains ahead of the U.S. Federal Reserve's Jackson Hole gathering, while crude oil prices decrease slightly.
Summary: U.S. markets closed mixed on Tuesday as the Nasdaq saw slight gains thanks to tech stocks while financials dragged on other indexes after major U.S. banks were hit with another downgrade from a credit rating agency. Meanwhile, China took steps to stabilize its currency amid weakening economic conditions and deteriorating credit conditions.
U.S. stocks closed higher as shares of Nvidia surged ahead of their quarterly results, boosting tech stocks and extending the year's rally, while weak business activity data and falling Treasury yields also supported the market.
US stocks opened higher on Thursday, supported by steady inflation and positive labor market data, with tech-heavy Nasdaq and S&P 500 both up 0.2% and the Dow up 0.4%, while investors anticipate a dovish Fed tilt.
Stocks were mixed on Friday after the US unemployment rate unexpectedly rose and more jobs were added to the economy than expected, with the Nasdaq entering negative territory while the S&P 500 and Dow Jones remained positive.
U.S. stocks ended the week with solid gains, but mixed trading, as traders weigh whether the soft economic data will convince the Federal Reserve to hold off on further rate hikes.
Stock indices closed lower today, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all experiencing declines, while the technology sector was the session's laggard and the real estate sector was the leader but still lost ground. Additionally, the U.S. 10-Year Treasury yield and Two-Year Treasury yield both increased.
Asia-Pacific equity markets closed lower, with the exception of China's Shanghai Composite, as investors eagerly await central bank meetings and keep an eye on the ongoing management of global oil supply. Meanwhile, U.S. equity futures indicate a positive open.
Stocks closed relatively unchanged on Monday as investors await the upcoming Federal Reserve meeting, which will determine the central bank's next interest rate decision, amidst easing core inflation and a cooling labor market.