From Nasdaq: 2024-04-02 18:26:17

Stock indexes posted moderate losses on Tuesday, with the S&P 500, Dow Jones Industrials, and Nasdaq 100 falling to 1-1/2 week lows. Bonds saw yields climb to 4-month highs after stronger-than-expected US economic data raised doubts about Fed rate cuts. The Euro Stoxx 50 and Shanghai Composite closed lower, while the Nikkei Stock Index closed higher.

Interest rates saw 10-year T-notes drop to a 2-week low with yields rising to a 4-month high due to strong US job openings and factory orders reports. European government bond yields also moved higher, with the German bund yield and UK gilt yield hitting highs. The US stock market saw health insurance and homebuilding stocks decline in response to market conditions.

Energy stocks rallied as WTI crude oil prices climbed to a 5-1/4 month high, boosting energy companies. McCormick & Co and mining stocks saw gains as well. Walt Disney had a positive day after reports of success in a proxy fight. Earnings reports for the day included Acuity Brands Inc, Novagold Resources Inc, and Simulations Plus Inc among others.



Read more at Nasdaq: Stocks Close Lower on Fears Fed Rate Cuts Will be Delayed