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Stocks Settle Mixed on Tech Weakness and Inflation Pressures
Barchart - Tue May 12, 3:37PM CDT
The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.16%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.87%. June E-mini S&P futures (ESM26) fell -0.16%, and June E-mini Nasdaq futures (NQM26) fell -0.90%.
Stock indexes settled mixed on Tuesday. The broader market was under pressure amid weakness in technology stocks, following Monday’s rally that pushed the S&P 500 and Nasdaq 100 to new record highs. The ongoing stalemate in the Middle East between the US and Iran is keeping the Strait of Hormuz closed, weighing on market sentiment, and pushing crude oil prices and bond yields higher. The 10-year T-note yield rose +5 bp to 4.46%.
Stock indexes added to their losses on Tuesday amid signs of accelerating inflation after the US Apr CPI rose 3.8% y/y, stronger than the 3.7% y/y expected and the largest increase in almost 3 years. Also, Apr core CPI rose +2.8% y/y, stronger than expectations of... Read more
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The S&P 500 Index ($SPX ) (SPY ) on Tuesday closed down -0.16%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +0.11%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.87%. June E-mini...
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