Stocks are down as bond yields rise, impacting cryptocurrency, chip, and home builder stocks

From Nasdaq: 2024-12-26 12:15:07

The S&P 500, Dow Jones, and Nasdaq are down as trading resumes after Christmas. Higher bond yields, with the 10-year T-note at a 7-month high of 4.639%, are pressuring stocks. Asian markets are up, with China planning a $411 billion stimulus. US jobless claims fell to a 1-month low.

Cryptocurrency stocks like Microstrategy and Coinbase are down due to Bitcoin’s 3% drop. Rising bond yields are impacting chip stocks like Nvidia and Qualcomm. Home builders like Mohawk Industries and Home Depot are falling after the 10-year T-note yield hit a 7-month high.

UnitedHealth Group is up 0.70% after being added to Raymond James’ Favorites List. Apple is up 0.24% after a target price raise by Wedbush. Palvella Therapeutics is up more than 2% after receiving a buy recommendation with a price target of $38. Earnings report from Alumis Inc. on 12/26/2024.



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