US stock indexes, including S&P 500, Dow Jones, and Nasdaq 100, are down, with technology stocks like Amazon and Microsoft falling. Home Depot also decreased after cutting earnings guidance. Concerns about tech valuations weigh on the market.

Signs of US labor market weakness boosted T-note yields lower, hinting at more rate cuts. Weekly initial unemployment claims were 232,000, while continuing claims rose. Markets await Nvidia, Walmart, and Target earnings for economic health insight.

Q3 earnings season saw 82% of S&P 500 companies surpass forecasts, with earnings up +14.6%. Overseas markets like Euro Stoxx 50, Shanghai Composite, and Japan’s Nikkei are down. Analysts predict a 48% chance of a rate cut at the next FOMC meeting.

T-note prices rise as stocks weaken, with a 10-year yield down. European bond yields also decline. US stock movers like Amazon, Microsoft, and chip stocks are down. Home Depot leads losers after weak Q3 results, while Medtronic and Freeport-McMoRan gain.

Merck, Axalta, and Barrick Mining see gains. Earnings reports include AECOM, Amer Sports, BellRing Brands, and more. The author discloses no positions in the securities mentioned. Stay informed with Barchart for the latest market updates.

Read more at Nasdaq: Stocks Fall on Tech Stock Weakness and Disappointing Home Depot Earnings