US stock markets mixed on record highs, rising bond yields and mixed economic data.

From Nasdaq: 2024-05-16 11:52:10

US stock markets are mixed as the S&P 500 and Nasdaq 100 hit record highs but are held back by rising bond yields tied to inflation pressures. Initial unemployment claims fell, but housing and manufacturing data disappointed. Q1 earnings are strong, but expectations for a rate cut are low. Overseas markets show a mixed picture.Walmart leads stock gainers with strong sales, while Chubb and Cisco also rise after positive reports. Deere & Co cuts profit forecast, Meta Platforms faces EU probe, and Biogen drops a ALS treatment. Homebuilders and Civitas Resources decline. Earnings reports today include names like Deere, Walmart, and Under Armour.



Read more at Nasdaq: Stocks Little Changed After Mixed US Economic Reports