A major US stock indices are all closing lower. Yields have moved higher with the 2-year up 8.6 basis points at 4.223%. The 10-year is up 11.6 basis points at 4.067%.
The Dow Industrial Average was the worst performer of the major indices. It was pushed down by a -7.9% decline in Boeing shares. Nike also fell -3.19%, and Chevron shares fell -2.44%. Shares of Disney rose 2.98% after a report that NFL is in advanced talks with ESPN to acquire an equity stake in a network.
The NASDAQ index close low on the day but was the best performer of the three major indices with a decline of -0.19%.
The final numbers are showing:
- Dow Industrial Average -231.86 points or -0.62% at 37361.13
- S&P index -17.85 points or -0.37% at 4765.99
- NASDAQ index -28.42 points or -0.19% at 14944.34
Although all three indices moved lower, the awesome oversized gainers:
- AMD shares soared 8.31%. KeyBanc raised its price target on the stock to $195 from $170 and maintains overweight rating. Shares closed at $158.74 up $12.18
- Nvidia shares rose $16.72 or 3.06% to $563.82
- Coinbase rebounded after a few days of declines. It shares rose 2.37%
- Micron rose 2.69%
- Palo Alto networks rose 2.09%
On the downside today, besides Boeing’s -7.9% decline:
- FirstSolar fell -7.07%
- Snap fell -5.39%
- Morgan Stanley announced earnings today that were disappointing and it shares about -4.20%
- Roblox -3.84%
- Moderna fell -3.58%
Remember the S&P index although lower today is still within striking distance of its all-time high closing level at 4796.57. A move above that level – and close above that level – would be more bullish.