Stocks fall due to higher bond yields and negative corporate news.

From CNBC: 2024-05-08 11:34:05

US stock indexes are down this morning due to higher T-note yields and negative corporate news. Tesla drops after US prosecutors investigate self-driving claims, while Uber and tech giants like Intel and Qualcomm also see declines. Earnings reports show a mostly positive trend, boosting stocks. Mortgage applications are up, with bond yields rising. Overseas markets show mixed results, with US rates expected for a minimal cut. Stock movers include Match Group and ZoomInfo down, while Vistra Corp and NRG Energy soar. Uber reports weak Q1 and forecasts, Tesla under scrutiny. Intel and Qualcomm impacted by Huawei licenses revoked. Other gainers include Arista Networks, Jack Henry & Associates, and Lyft. Earnings reports today include Airbnb, Fox Corp, and Uber Technologies.



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