From Nasdaq: 2024-04-09 13:00:03

Stock indexes are trading lower this morning with the S&P 500 down -0.76%, the Dow Jones down -0.78%, and the Nasdaq 100 down -0.67% on risk aversion ahead of US CPI report. Market cautious ahead of Fed’s rate cut timing. Q1 earnings season begins Friday with expectations for +3.9% profit growth.

Interest rates on 10-year T-notes are up as yield drops to 4.368%. European bonds are strong, limiting T-notes upside. ECB reports “substantial decline” in Eurozone corporate loan demand. US Stock movers include Nvidia down -4%, cruise line operators lower, and telecommunication and defense-related stocks under pressure.

Moderna up +8% on positive data from cancer vaccine trial. Chip stocks rise with declining T-note yields, ON Semiconductors up +3%. Alkermes Plc gains +2% on successful study. Freeport McMoRan upgraded, Nasdaq and Newmont up +1% on record prices. Quarterly earnings reports today include Aehr Test Systems, Neogen Corp, and more.



Read more at Nasdaq: Stocks Retreat on Risk Aversion Ahead of Wednesday’s US CPI Report