From Nasdaq: 2024-06-11 18:22:16

On Tuesday, stock indexes closed with mixed results – the S&P 500 and Nasdaq 100 hit record highs, while the Dow Jones Industrials dropped. Apple surged over 7%, driving tech gains. Bond yields fell post successful US Treasury auction. Pimco predicts more US bank failures due to troubled real estate loans. Investors await Wed’s CPI and FOMC results.

FOMC is expected to keep rates steady; markets speculate on rate cuts post-meeting. Positive Q1 earnings back stock performance. Overseas markets were mixed. Interest rates fell post strong demand for Treasuries. ECB remains non-committal on rate direction. Stocks moved on earnings and company-specific news. Companies like Apple, FMC, and General Motors saw stock boosts.

However, bank stocks faced losses after Pimco’s warning. Synchrony Financial, Capital One, and American Express led declines. Paramount Global dropped after failed acquisition talks. Autodesk reported SEC probe. Target Hospitality slumped on closure news. PayPal dipped post Apple payments feature. Cleveland-Cliffs faced downgrade. CoreCivic and Comcast ended lower on analyst actions. Earnings reports include Broadcom, Dave & Buster’s, Oxford Industries, Torrid Holdings, and Vera Bradley.



Read more at Nasdaq: S&P 500 and Nasdaq 100 Post Record Highs as Apple Soars