Stock Market Overview
The S&P 500 Index ($SPX) on Thursday closed down -1.34%, the Dow Jones Industrials Index ($DOWI) closed down -1.11%, and the Nasdaq 100 Index ($IUXX) closed down -1.73%.
U.S stock indexes on Thursday erased an early rally and sold off, with the S&P 500 ($SPX) and Dow Jones Industrials ($DOWI) falling to 1-month lows and the Nasdaq 100 ($IUXX) dropping to a 2-1/2 month low. A surge in T-note yields on Thursday undercut stocks, as did weakness in technology stocks that weighed on the overall market.
T-notes yields on Thursday jumped with the 10-year T-note yield climbing +6.6 bp to 1.547% on disappointment about comments from Fed Chair Powell. Yields rose fell when Mr. Powell, during a speech Thursday, did not express concern over the recent jump in T-note yields to 1-year highs and said that only "disorderly" market conditions would concern him.
Thursday's U.S economic data was supportive for stocks. U.S. weekly initial unemployment claims rose... Read more
WASHINGTON (AP) — Senate Democrats on Thursday came out with their version of the $1.9 trillion COVID relief bill. A look at some of the major changes in the bill now being considered by the Senate versus what passed the House last week.
ANNAPOLIS, Md. — Gov. Larry Hogan released further plans Thursday to distribute COVID-19 vaccines more equitably to underserved parts of Maryland, after leaders of the state’s largest Black populations criticized major disparities in the rollout of vaccinations to minorities.
WASHINGTON (AP) — The Senate voted by the slimmest of margins Thursday to begin debating a $1.9 trillion COVID-19 relief bill, after Democrats made eleventh-hour changes aimed at ensuring they could pull President Joe Biden’s top legislative priority through the precariously divided chamber.
ISSAQUAH, Wash. (AP) — Warehouse retail chain Costco Wholesale said its fourth-quarter profits rose slightly from a year ago, its profits weighed by wage premiums paid to employees during the pandemic.
LAS VEGAS (AP) — Your eyes won’t be playing tricks on you Friday night when a fleet of trucks at Las Vegas Motor Speedway all look exactly the same.
Technology companies led another broad sell-off on Wall Street Thursday as a spike in bond yields put more pressure on the market's high-flying stocks.