Stock indexes mixed as bond yields rise, energy stocks climb; markets await economic reports.

From Nasdaq: 2024-06-10 12:53:07

Stock indexes are mixed today, with the S&P 500 down -0.09%, the Dow Jones down -0.25%, and the Nasdaq up +0.19%. Energy stocks are climbing, while bond yields are higher. The markets await the US May consumer price report and FOMC meeting results. Overseas markets are mixed. European government bond yields rise. ECB Governing Council members offer insights into future rate decisions. US stock movers include energy stocks rising and regional banks falling.

Interest rates are pressured as the 10-year T-note yield climbs to a 1-week high of 4.461%. Negative carryover from the strong US May payroll report influences rates. European government bond yields are higher as well. ECB Governing Council member comments and swap rate predictions provide insight into future rate cuts by the ECB.

US stock movers include Chevron leading gainers in the Dow, while regional banks are under pressure. Illumina and Advanced Micro Devices are among the biggest losers. Southwest Airlines sees gains after an investment by Elliot Investment Management. Crowdstrike and KKR are also up. Earnings reports for today include Autodesk Inc and Calavo Growers Inc.



Read more at Nasdaq: Stocks See Pressure from Higher Bond Yields But Energy Stocks Are Higher