Wall Street drifts to a mixed finish as yields tick higher
==========
U.S. stock indexes drifted to a mixed close on Thursday after more reports showing the economy remains stronger than expected. The Standard & Poor’s 500 index fell 0.2% for its fifth straight loss, its longest such streak since October. The Dow Jones industrial average edged up by 0.1%, and the Nasdaq composite slipped 0.5% after a mixed set of profit reports from big companies. Treasury yields rose after the release of the stronger-than-expected economic data that showed the number of layoffs across the country remains relatively low and that manufacturing in the mid-Atlantic region accelerated unexpectedly. Equifax dropped 8.5% for one of the market’s bigger losses after it reported weaker revenue for the latest quarter than analysts expected. Las Vegas Sands fell 8.7% even though it reported better results than expected. Elevance Health climbed 3.2% after raising its profit forecast for the full year. Genuine Parts jumped 11.2% for the biggest gain in the S&P 500 after reporting stronger profit for the latest quarter than analysts expected. Stocks have been struggling recently as yields in the bond market charge higher. Yields climbed higher after reports showed the U.S. economy remains stronger than expected. The job market remains solid despite high interest rates. Manufacturing in the mid-Atlantic region accelerated sharply. Sales of previously occupied U.S. homes didn’t fall as much last month as economists expected. The Federal Reserve may hold interest rates high for a while. Traders are now forecasting just one or two rate cuts this year. In the bond market, the yield on the 10-year Treasury rose to 4.64% from 4.59% late Wednesday. The two-year Treasury yield rose to 4.98% from 4.94%. Alaska Air rose 4.3% after projecting better profits for the current quarter. Ally Financial jumped 6.7% after reporting stronger earnings for the latest quarter. The Walmart-backed digital company, , jumped 17.3% in its first day of trading. Indexes rose modestly across much of Europe and Asia. South Korea’s Kospi jumped 2% to help lead markets worldwide.
#WallStreet #StockMarket #Yields #Economy #TreasuryYields #FederalReserve
https://www.latimes.com/business/story/2024-04-18/stock-market-today-wall-street-drifts-to-a-mixed-finish-as-yields-tick-higher
Los Angeles Times /
npub1ka…ct50x
2024-04-18 21:44:45
Author Public Key
npub1kat3x50s05kl9v0lqxq5qsl0znf0eu2rwyeq4xyplj80ga740k9q9ct50xPublished at
2024-04-18 21:44:45Event JSON
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"content": "Wall Street drifts to a mixed finish as yields tick higher\n==========\n\nU.S. stock indexes drifted to a mixed close on Thursday after more reports showing the economy remains stronger than expected. The Standard \u0026 Poor’s 500 index fell 0.2% for its fifth straight loss, its longest such streak since October. The Dow Jones industrial average edged up by 0.1%, and the Nasdaq composite slipped 0.5% after a mixed set of profit reports from big companies. Treasury yields rose after the release of the stronger-than-expected economic data that showed the number of layoffs across the country remains relatively low and that manufacturing in the mid-Atlantic region accelerated unexpectedly. Equifax dropped 8.5% for one of the market’s bigger losses after it reported weaker revenue for the latest quarter than analysts expected. Las Vegas Sands fell 8.7% even though it reported better results than expected. Elevance Health climbed 3.2% after raising its profit forecast for the full year. Genuine Parts jumped 11.2% for the biggest gain in the S\u0026P 500 after reporting stronger profit for the latest quarter than analysts expected. Stocks have been struggling recently as yields in the bond market charge higher. Yields climbed higher after reports showed the U.S. economy remains stronger than expected. The job market remains solid despite high interest rates. Manufacturing in the mid-Atlantic region accelerated sharply. Sales of previously occupied U.S. homes didn’t fall as much last month as economists expected. The Federal Reserve may hold interest rates high for a while. Traders are now forecasting just one or two rate cuts this year. In the bond market, the yield on the 10-year Treasury rose to 4.64% from 4.59% late Wednesday. The two-year Treasury yield rose to 4.98% from 4.94%. Alaska Air rose 4.3% after projecting better profits for the current quarter. Ally Financial jumped 6.7% after reporting stronger earnings for the latest quarter. The Walmart-backed digital company, , jumped 17.3% in its first day of trading. Indexes rose modestly across much of Europe and Asia. South Korea’s Kospi jumped 2% to help lead markets worldwide.\n\n#WallStreet #StockMarket #Yields #Economy #TreasuryYields #FederalReserve\n\nhttps://www.latimes.com/business/story/2024-04-18/stock-market-today-wall-street-drifts-to-a-mixed-finish-as-yields-tick-higher",
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