From Nasdaq: 2024-12-12 15:27:12

Stock indexes are down today, with the Dow Jones falling to a 1-1/2 week low due to rising bond yields. US weekly jobless claims rose unexpectedly, and Nov producer prices increased more than expected. Adobe forecasts weaker 2025 revenue, while Centene predicts higher adjusted EPS. The chance of a -25 bp rate cut at the FOMC meeting is at 98%.

European government bond yields are rising, impacting T-notes. The ECB cut the deposit rate by -25 bp and revised GDP and inflation forecasts downward. US stock movers include Adobe down more than -12%, chip stocks like Lam Research and Nvidia are also lower. On the positive side, Warner Bros Discovery is up more than +12% after announcing a split.

In other news, MetLife projects strong free cash flow, while Kroger plans a stock buyback program. Jazz Pharmaceuticals and Equifax received upgrades, while Keurig Dr Pepper and Charter Communications are also up. Earnings reports for 12/12/2024 include companies like Broadcom and Costco Wholesale. The author did not hold positions in mentioned securities.



Read more at Nasdaq: Stocks Weaken on Stagflation Concerns