From Nasdaq: 2024-04-10 12:56:32

Stock indexes are down today, with the S&P 500 hitting a 3-week low, the Dow Jones dropping to a 1-1/2 month low, and the Nasdaq falling 1.13%. US March CPI came in higher than expected, leading to expectations that the Fed won’t cut interest rates soon. Corporate earnings season begins Friday.Interest rates rose after the US Mar CPI report, with June 10-year T-notes at a 4.5 month low and yields at 4.497%. Treasury will auction $39 billion of reopened 10-year T-notes. European government bond yields are also higher. Stock movers include Deckers Outdoor Group, homebuilding, chip stocks, and property management stocks. Wednesday earnings reports include Delta Air Lines Inc and Rent the Runway Inc.



Read more at Nasdaq: Stocks Tumble as Sticky US CPI Curbs the Outlook for Fed Rate Cuts