Stock indexes are down today, with the S&P 500, Dow Jones, and Nasdaq all in the red. Tech stocks are leading the decline, along with mining companies. Bond yields are up after jobless claims fell, hinting at a hawkish Fed policy. Chinese economic data is positive, boosting global growth prospects.

US weekly initial unemployment claims unexpectedly fell to a 1-month low, showing a strong labor market. Markets are quiet due to holidays in Germany and Japan. Expectations for a rate cut at the next FOMC meeting are low. Overseas markets are mixed, with European government bond yields lower.

The Magnificent Seven tech stocks are down, while Nvidia is up on increased chip demand. Mining companies like Newmont and Freeport-McMoRan are also facing losses. Corcept Therapeutics is down after an FDA rejection, while GlobalFoundries falls after a downgrade. Vanda Pharmaceuticals and Terawulf Inc are among the gainers.

Nike leads gains in the Dow Jones Industrials, with positive insider buying news. Earnings reports include CoastalSouth Bancshares Inc, Golden Matrix Group Inc, and Immersion Corp. The market outlook remains uncertain, with attention on upcoming economic data releases and global market trends.

Read more at Nasdaq: Stocks Slide on Weakness in Megacap Tech Stocks