US Stocks Retreat as Tech Rally Falters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
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Source: NASDAQ.COM
- Market Retreat: The S&P 500 index fell by 0.68% and the Nasdaq 100 by 0.95%, both hitting 1.5-week lows, indicating a weakening confidence in tech stocks that could affect investor sentiment and future capital flows.
- Rising Bond Yields: The 10-year T-note yield climbed to a 16-month high of 4.69%, intensifying concerns over rising inflation that may prompt the Fed to pursue tighter monetary policy, thereby impacting stock market performance.
- Supportive Economic Data: April pending home sales rose by 1.4% month-over-month, surpassing expectations of 1.0%, demonstrating resilience in the housing market that could provide some support for stocks, despite overall market pressures.
- Oil Price Volatility: WTI crude oil prices dropped over 1% today due to geopolitical factors, with market concerns about future supply tightness intensifying, potentially affecting stock performance in related sectors, particularly airlines and mining stocks.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
