The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.46%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.98%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.55%. 

US stock indexes Thursday closed moderately lower, led by weakness in technology stocks.  Meta Platforms fell more than -10% after forecasting Q2 revenue below consensus and raising its full-year total expenses estimate.  Also, IBM fell more than -8% after reporting lackluster Q1 revenue from its consulting division.  In addition, Caterpillar closed down more than -6% after saying it expects sales for Q2 to be lower compared to last year. 

Losses in stocks accelerated Thursday morning after bond yields jumped on signs of persistent inflation and labor market strength when Thursday’s US Q1 core PCE price index was revised higher and weekly jobless claims unexpectedly fell to a 2-month low, hawkish factors for Fed policy.  Also, the larger-than-expected downward revision to US Q1 GDP and up... Read more