Stocks finished lower on profit-taking at year-end, impacted by rising Treasury yields

From Nasdaq: 2024-12-31 18:13:43

The S&P 500, Dow Jones, and Nasdaq closed down on Tuesday, with futures also showing declines. T-note yields rose, impacting chip stocks negatively. Energy stocks rallied as WTI crude oil hit an 8-week high. Chinese manufacturing data and US home prices influenced market sentiment.

Global equity markets closed mixed, with Europe up and China down. US stock movers included chip companies like ARM and Nvidia, while energy stocks surged. Tesla led S&P 500 losers due to recalls, Vistra Corp saw profit-taking, and GoDaddy faced slowing growth concerns.

Interest rates saw T-notes fall on higher yields driven by crude oil prices. European bond yields dropped, with expectations of an ECB rate cut. Stock movers included Acadia Pharma, FTAI Aviation, US Steel, and VeriSign. Earnings reports for 1/2/2025 include Critical Metals Corp, Lifecore Biomedical, and Resources Connection Inc.



Read more at Nasdaq: Stocks Finish Lower on Year-End Profit-Taking