From Nasdaq: 2024-12-12 12:59:54

Stock indexes are down today, with the S&P 500, Dow Jones, and Nasdaq all in the red. Rising bond yields and weak economic data are contributing to losses. Adobe drops over 13% after revenue forecast, while MetLife rises more than 5% on strong cash flow projection. Unemployment claims and producer prices are up, impacting market sentiment.

Interest rates are down for March 10-year T-notes, while bond yields are up in Europe. The ECB cuts rates and lowers GDP and inflation forecasts for Eurozone. Swaps anticipate a rate cut at the ECB’s January meeting. Overseas markets are up, with Euro Stoxx 50 and China’s Shanghai Composite Index posting gains.

Stock movers include Adobe, down over 13%, and chip stocks like Lam Research and Broadcom falling. Steel makers like Nucor and Steel Dynamics are down after UBS downgrade. Keros Therapeutics plunges over 75% on trial halt, while companies like Warner Bros Discovery and MetLife see gains. Earnings reports for 12/12/2024 include companies like Broadcom and Costco Wholesale Corp.

In corporate news, Centene rises over 1% on strong EPS forecast, while Kroger plans a stock buyback program. Jazz Pharmaceuticals and Equifax see upgrades, while Keurig Dr Pepper and Charter Communications also rise. Goldman Sachs downgrades CACI International and General Dynamics, impacting their stock prices. Corcept Therapeutics falls over 2% after trial results disappointment.



Read more at Nasdaq: Stocks Pressured by Higher Bond Yields