From Nasdaq: 2024-04-18 18:15:14

US stock indexes closed mixed on Thursday, with the S&P 500 and Nasdaq 100 hitting lows. T-note yields rose, impacting stocks. Hawkish Fed comments on rates further pressured markets. Strong US economic reports offered some support. Geopolitical tensions in the Middle East also weighed on stocks. Earnings from Elevance Health boosted insurers.

US weekly initial unemployment claims remained unchanged at 212,000, signaling a strong labor market. The Apr Philadelphia Fed business outlook survey unexpectedly rose to a 2-year high of 15.5. Mar existing home sales fell, while leading indicators dropped in March. Fed comments suggest no rush to cut rates, different from market expectations.

Overseas markets settled higher, with Euro Stoxx 50 and Shanghai Composite gaining. T-notes fell on US reports, as did European government bond yields. German economy may have seen slight growth in Q1. ECB officials hint at policy easing in June. Eurozone car registrations declined while construction output rose.



Read more at Nasdaq: Stocks Finish Lower on Hawkish Fed and Rising Bond Yields