Stock market today: Wall Street falls after profit warnings, strong economic data

economy continues to storm ahead despite much higher interest rates that have already lashed the stock market. The S&P 500 lost 1.2%. Another steep fall for Big Tech dragged on the market and sent the Nasdaq composite to a market-leading loss of 1.8%. The Dow Jones Industrial Average fell 251 points. Treasury yields fell after erasing earlier gains. The yield on the 10-year Treasury dropped to 4.84%.

Investors may have been spooked by the company’s warning that it’s seen some initial softness in advertising due to the latest Israel-Hamas war, and analysts said the company gave a wider range than it has in the past for its forecast of upcoming revenue. The yield on the 10-year Treasury fell to 4.84% from 4.96% late Wednesday. Earlier in the morning, it had neared its highest level since 2007. Yields swung following a deluge of reports on the economy.

Thursday’s strong economic reports show the U.S. economy is clearly not in a recession. But Wall Street is more concerned about what will happen rather than what’s in the past, and the worry is that a solid economy could put continued upward pressure on inflation. That in turn could push the Fed to keep rates high for a long time to defeat high inflation. And that would mean eventual weakness for the economy and corporate profits.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stock market today: Wall Street rises after corporate profits top forecasts and oil prices sink moreNEW YORK (AP) — Wall Street closed higher after Verizon and other big companies reported fatter profits for the summer than expected. The S&P 500 rose 0.7% Tuesday. The Dow added 204 points, and the Nasdaq composite climbed 0.9%.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Wall Street tumbles back to where it was in MayNEW YORK (AP) — Wall Street sank back to where it was in May, pulled down by steep drops in several Big Tech companies. The S&P 500 fell 1.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Wall Street drifts following more strong economic reportsNEW YORK (AP) — Wall Street is drifting after reports showed the U.S. economy continues to storm ahead despite much higher interest rates that have already lashed the stock market. The S&P 500 was off 0.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: World shares slide after Wall St rout driven by high yields, mixed earningsBANGKOK (AP) — Shares skidded Thursday in Europe and Asia after Wall Street tumbled as bond yields tightened their chokehold. Germany's DAX fell 1.1% to...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Stock market news today: Nasdaq leads stock slide as Big Tech comes under pressureStocks are struggling under the weight of disappointing Big Tech earnings and rising bond yields.
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »