Stock Market Today: Dow closes lower on rising yields, plunge in American Airlines

Investing.com-- The Dow closed sharply lower Wednesday, driven by rising Treasury yields and weakness in industrials as airlines stocks fell sharply on concerns about demand after American Airlines cut its profit guidance for Q2.The downgrade guidance prompted some on Wall Street turn bearish amid worries that American Airlines is struggling to keep up with compettition from low and ultra cost carries.

"AAL's revenue challenges are likely to persist beyond this summer given escalating ultra-low cost carrier growth at its top hubs," Seaport Research Partners said in Wednesday note as it cut its earnings outlook and downgraded American Airlines shares to neutral from buy.Treasury yields continued to climb following a series of weaker than expected auction results, signaling weaker demand, for government bonds including the $44B of 7-year notes auctioned Wednesday.

Signs of sticky inflation have led several officials to suggest in recent days that they would like to see more evidence of cooling prices before starting to bring rates down from more than two-decade highs.) is still due to report its fiscal first quarter earnings after the bell, with Wall Street likely on the lookout for updates on the business software group's Data Cloud division.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Dow slides 600 points as worries about rates overshadow Nvidia’s blowout profitMost U.S. stocks slumped Thursday after strong economic reports raised the possibility of interest rates staying painfully high. The weakness was widespread on Thursday and overshadowed another blo…
Source: mercnews - 🏆 88. / 68 Read more »

Stock Market Today: Dow closes above 40,000 for first time to extend wining streakStock Market Today: Dow closes above 40,000 for first time to extend wining streak
Source: Investingcom - 🏆 450. / 53 Read more »

Stock market today: Wall Street drifts higher, and Dow touches 40,000 for the first timeThe Dow Jones Industrial Average was 109 points higher, or 0.3%, at 40,017, as of 10:45 a.m.
Source: clevelanddotcom - 🏆 301. / 63 Read more »

Stock Market Today: Dow snaps two-day win streak after brief foray above 40K levelStock Market Today: Dow snaps two-day win streak after brief foray above 40K level
Source: Investingcom - 🏆 450. / 53 Read more »

Stock market today: Dow tops 40,000 for the first time as Wall Street drifts higherThe Dow Jones Industrial Average topped the 40,000 level for the first time Thursday, as U.S. stocks drifted higher to add to their records set a day before.
Source: amNewYork - 🏆 336. / 59 Read more »

Stock Market Today: Dow rides broadening out of rally to notch 4th weekly winStock Market Today: Dow rides broadening out of rally to notch 4th weekly win
Source: Investingcom - 🏆 450. / 53 Read more »