Stock Indices Finish Trading Session in the Red
Stocks in the Red
- Nasdaq 100 (NDX) fell 1.75%
- S&P 500 (SPX) fell 1.22%
- Dow Jones Industrial Average (DJIA) fell 0.83%
Technology Sector Lags Behind
The technology sector (XLK) fell 1.9%.
Real Estate Sector Leads but Still Loses
The real estate sector (XLRE) was the session’s leader but still lost 0.42%.
U.S. Treasury Yields Increase
- 10-Year Treasury yield increased to 4.33%
- Two-Year Treasury yield hovers around 5.03%
Empire State Manufacturing Index Beats Expectations
The Federal Reserve Bank of New York released its Empire State Manufacturing Index report, which came in at 1.9, beating expectations of -10.
Consumer Inflation Expectations Decrease
Consumers now expect inflation to be 2.7%, lower than the expected 3% and decreased compared to the previous month.
Auto Workers Go on Strike
Auto workers at Ford, General Motors, and Stellantis plants go on strike due to failure to agree on a revised labor contract.
European Indices Trend Higher
European indices rally following the European Central Bank’s interest rate hike.
Asia-Pacific Markets Mostly End Higher
Asia-Pacific indices finish higher following positive economic news from China.
