Stock indexes mixed, Dow Jones high, chip stocks drag down S&P 500 and Nasdaq.

From Nasdaq: 2024-07-11 13:04:31

Stock indexes were mixed today, with the Dow Jones hitting a 7-week high but chip stocks dragging down the S&P 500 and Nasdaq. Delta Air Lines forecasts Q3 earnings below consensus, leading to pressure on airline stocks. US weekly initial unemployment claims hit a 6-week low. June CPI eased to +3.0% y/y. The markets are awaiting Q2 earnings reports. Interest rates are down with T-notes climbing to a 4-month high. European government bond yields are lower. US stock movers include chip stocks down and airline stocks falling on earnings news. Homebuilding and supply stocks are rallying. Real estate investment trusts are up with the drop in T-note yields. Conagra Brands and Citigroup down after reports. XP Inc downgraded, Atlassian upgraded, Alcoa and WD-40 earnings remain positive. Earnings reports today include Bank7 Corp, Conagra Brands, Delta Air Lines, and PepsiCo.



Read more at Nasdaq: Stocks Fall Despite Dovish CPI Due to Weakness in Chip Stocks