Stock Market Overview
Stocks Settle Mixed on Rising Bond Yields and Tech Strength
The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.02%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.32%.
US stock indexes on Wednesday settled mixed, with the S&P 500 and Nasdaq 100 posting 1-week highs. Strength in technology stocks was supportive of the overall market. However, gains in the broader market were limited as rising bond yields pressured stocks.
On the positive side, Tesla rose more than +12% despite reporting weaker-than-expected Q1 EPS after it said it would accelerate the launch of less-expensive models as soon as this year. Also, semiconductor stocks rallied Wednesday after Texas Instruments reported stronger-than-expected Q1 revenue and forecasted Q2 revenue above consensus. In addition, Hilton Worldwide Holdings rose more than +3% after reporting better-than-expected Q1 adjusted Ebitda and raising its full-year adjusted Ebitda forecast.
On the negative side, Old D... Read more
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