From Nasdaq: 2024-11-15 12:52:15

Stocks fell today as the S&P 500, Dow Jones, and Nasdaq all declined. Hawkish Fed comments pushed bond yields up, reducing the likelihood of a December rate cut. Vaccine makers and pharmaceutical stocks dropped after Trump’s appointment. Retail sales beat expectations, but manufacturing production declined in October.

Earnings reports show most S&P 500 companies beat estimates in Q3. Markets predict a 55% chance of a rate cut in December. Overseas markets are mixed. Bond yields in Europe rose. The Eurozone forecasts modest GDP growth and inflation rates. Swaps predict an ECB rate cut in December.

Pharmaceutical stocks plummeted after Trump’s appointment. Applied Materials forecasted weaker Q1 sales, impacting chip stocks. Pfizer and Halozyme Therapeutics also fell. Ulta Beauty and Palantir saw losses and gains, respectively. Walt Disney surged, and Berkshire Hathaway acquired stakes in Domino’s Pizza and Pool Corp. Alcoa rose due to aluminum prices. Earnings reports were released for various companies.



Read more at Nasdaq: Stocks Tumble as Hawkish Fed and Strong US Economic News Boosts Bond Yields