Wall Street stocks close lower on higher Treasury yields, rate expectations

📆 4/16/2024 11:32 PM
📰 malaymail

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Wall Street News

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NEW YORK, April 17 ― Wall Street stocks ended lower in choppy trading yesterday as Treasury yields climbed, with investors weighing the likely path of interest rates in a...

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The Dow Jones Industrial Average got a boost from UnitedHealth Group's better-than-expected quarterly results. Real estate and utilities were the biggest drags on the S&P 500, while technology gave the largest boost.“People are trying to balance this two-sided narrative: US economic growth, which looks really good, and at the same time the inflation picture and interest rates, which will eventually be problematic for the equity market,” said James St.

Shares of Morgan Stanley rose 2.5 per cent after its first-quarter profit beat estimates on resurging income from investment banking. Tesla slipped 2.7 per cent a day after falling over 5 per cent on news that the EV marker plans to lay off more than 10 per cent of its global workforce.

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