Market News

Stock Market News Today: Stocks Close Week on a Downturn, Ending on a Low Note

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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.

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