From Nasdaq: 2024-05-22 18:08:31

US stock indexes closed lower Wednesday, with the S&P 500 down -0.27% and the Dow Jones falling to a 1-week low. Rising global bond yields weighed on the market. Q1 earnings are expected to climb +7.1%. Weekly MBA mortgage applications rose +1.9% while Apr existing home sales fell -1.9%. Overseas, Euro Stoxx 50 and Nikkei Stock Index closed lower. European 10-year yields rose due to UK and German economic data. ECB President Lagarde hinted at a possible rate cut on June 6 but not further cuts. Stocks like Target, Tesla, and Lululemon saw significant declines, while others like Analog Devices and Dycom Industries rose after earnings reports. Earnings reports for companies like BJ’s Wholesale Club Holdings and Workday are expected on 5/23/2024.



Read more at Nasdaq: Stocks Retreat on the Hawkish FOMC Minutes