Highlights
Stocks ended mostly weaker Thursday as the market corrected lower after two days of gains. The major indexes ended down but up from morning lows as investors reacted favorably to news that US and Iranian talks had seen progress and would continue next week rather than breaking down completely.
The Dow Jones industrial average was flat, the broader S&P 500 lost 0.5 percent and the Nasdaq was down 1.2 percent. US Treasury yields declined while oil prices edged up and the dollar rose.
Nvidia sold off to weigh on microships and technology shares generally despite another huge beat from the tech bellwether in the latest quarter. Investors appear inclined to fret that AI stocks are overvalued. Cyclical/value stocks outperformed along with defensive sectors as investors rotated out of growth again.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.