|Day's Range||7,094.4282 - 7,195.7202|
|52 Week Range||5,970.2500 - 7,637.2700|
Market recap for Monday, April 23rd
The S&P 500 was largely unchanged Monday as a stock-market rally that once appeared unstoppable entered its longest stretch of vulnerability since the financial crisis. Monday’s increase of less than 0.1% marked the 51st trading day since the index suffered a correction—a decline of at least 10% from a recent high—its longest stretch in correction territory since 2008. Investors tepidly traded most of the day, with the fewest number of shares changing hands since Dec. 29.
Futures were little changed late Monday as Alphabet stock held steady despite strong earnings. Stock indexes are stuck below 50-day lines as Apple and chip stocks keep falling as Treasury yields keep rising.
NEW YORK (AP) — U.S. stocks couldn't hang on to an early gain and finished mostly lower Monday as technology companies slipped. Bond prices continue to fall and the yield on the 10-year Treasury note drew closer to 3 percent, a milestone it hasn't reached since January 2014.
The S&P 500 just recorded a dubious milestone. The broad-market benchmark has put in its longest run in correction territory since May 1, 2008, according to WSJ Market Data Group. The S&P 500 index (^GSPC) has been in correction territory, defined as a decline of at least 10% from a recent peak, for 51 trading sessions, including Monday’s lackluster finish for the index.
Government bond yields climbing and a shrinking gap between short-term and long-term Treasury rates have prompted some consternation on Wall Street, driving equity prices lower as investors fret about what these dynamics mean for U.S. economic growth as it enters its ninth year of expansion. Fears about a so-called flattening yield curve have taken center stage, with investors fixated on the gap between the 2-year Treasury notes (XTUP:TMUBMUSD02Y=X) and the 10-year benchmark (XTUP:TMUBMUSD10Y=X), which last Tuesday touched the narrowest point—41 percentage points—in more than a decade. The yield curve is often tracked as a measure of sentiment about the economy’s overall health.
Wall Street ended mixed on Monday as concerns about soft smartphone demand weighed on tech stocks and pulled the Nasdaq lower while earnings optimism protected against deeper losses. Chipmaker shares dropped after the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd, cut its full-year revenue target due to softer demand for smartphones. Earnings provided a bright spot, with 18 percent of the companies in the S&P 500 having reported, 78.2 percent of which have beat consensus estimates.
U.S. stocks end the session little changed on Monday as investors grappled with rising bond yields and a mixed bag of earnings reports.
U.S. stocks couldn't hang on to an early gain and finished mostly lower Monday as technology companies slipped. Bond prices continue to fall and the yield on the 10-year Treasury note drew closer to 3 ...
The Dow Jones Industrial Average on Monday finished in negative territory for a fourth straight session, marking its longest losing trend since early March, as Wall Street wrestled with rising government ...
Wall Street struggled for direction on Monday, ending the session largely unchanged, as signs of waning smartphone demand weighed on the Nasdaq and as rising bond yields offset earnings optimism. The Dow ...
Wall Street fell into negative territory on Monday as signs of soft smartphone demand took a toll on tech stocks and a rise in bond yields dented demand for equities, offsetting optimism on earnings. Tech ...