From Nasdaq: 2024-04-02 11:44:11

Stock indexes, including the S&P 500, Dow Jones Industrials, and Nasdaq 100, are trading lower to 1-1/2 week lows due to rising bond yields and reduced expectations for Fed rate cuts. Overseas markets are mixed. Interest rates on 10-year T-notes have increased to a 4-month high, impacting T-note prices negatively.

European government bond yields are moving higher, and US stock movers are seeing some health insurance stocks, including Humana and CVS Health, down significantly. Homebuilding stocks are also dropping as 10-year T-note yields rise. Cryptocurrency-linked companies and Biomea Fusion are facing declines, while energy stocks and Roivant Sciences Ltd are climbing.

Olema Pharmaceuticals, McCormick & Co, and Estee Lauder are all up following positive analyst recommendations. Mining stocks are gaining as gold prices hit a record high. Earnings reports are expected from Cal-Maine Foods Inc, Dave & Buster’s Entertainment, DZS Inc, and Paychex Inc.

Read more at Nasdaq: Stocks Retreat as Bond Yields Jump on Diminished Fed Rate Cut Prospects