Stocks closed lower on negative corporate news, higher T-note yields, and disappointing China trade data.

From Nasdaq: 2024-12-10 20:11:23

Stocks closed lower on Tuesday, with the S&P 500 down -0.30%, Dow Jones down -0.35%, and Nasdaq 100 down -0.34%. Negative corporate news from Oracle and Toll Brothers weighed on the market, along with higher T-note yields. Alphabet and Alaska Air Group had positive news. US Nov productivity was +2.2%, while unit labor costs were revised to +0.8%. China’s trade data disappointed, with weaker exports and unexpected imports decline. Markets await Wednesday’s US consumer price report for November. T-notes closed down, with the 10-year yield at 4.221%. European bond yields rose. Moderna, Oracle, and MongoDB were among the top losers in the stock market, while Walgreens Boots Alliance and Alphabet were top gainers. Home builders were under pressure, and eBay, Crown Castle, and other stocks closed lower. Boeing, Alaska Air Group, and American Airlines Group were top gainers in the market. Warner Bros Discovery and cruise line operators also saw gains. Citizens Financial Group closed up after optimistic comments from its CEO. Earnings reports for 12/11/2024 include Adobe Inc, Macy’s Inc, and others.



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