Tuesday, 25 September, 2018

Markets Right Now: Tech leads stocks lower; bond yields rise

E-mini NASDAQ-100 Index Daily June E-mini NASDAQ-100 Index
Russell Knight | 16 May, 2018, 08:39

USA ambassador to China Terry Branstad said the two countries remain "very far apart" regarding a tariff resolution, after which White House economic adviser Larry Kudlow told Politico he supports efforts to reach an agreement.

Stocks struggled to a mixed finish on Wall Street as weakness in smaller-company stocks offset gains in large companies.

BOND YIELDS: Bond prices fell.

Banks bucked the downward trend Tuesday and rose along with bond yields. The blue-chip Dow Jones grew by 68.24 points, with UnitedHealth and Walmart being the best-performing stocks in the index.

The Dow Jones Industrial Average .DJI fell 193 points, or 0.78 percent, to 24,706.41, the S&P 500 .SPX lost 18.68 points, or 0.68 percent, to 2,711.45 and the Nasdaq Composite .IXIC dropped 59.69 points, or 0.81 percent, to 7,351.63.

On the economic front, advance estimates of U.S. retail and food services sales for April were 497.6 billion U.S. dollars, an increase of 0.3 percent from the previous month, in line with market expectations, said U.S. Commerce Department on Tuesday. Essex Property Trust fell 3.4 percent. The yield on the 10-year Treasury rose to 3.07 percent from 3 percent late Monday. Higher mortgage rates can make it harder for would-be buyers to purchase a home.

Ninth Round Of Syria Peace Talks Under Way In Astana
More than 330,000 people have been killed in Syria and millions have been driven from their homes since the conflict began in March 2011 with a crackdown on antigovernment protests.

Iran's FM leaves for Beijing for talks on nuke deal
Protesters burned an American flag and railed against the U.S. and Israel after emerging from Friday prayers in Tehran . And on the weekend, PM Theresa May spoke with the Iranian president to clarify the UK's position of upholding the deal.

Before Race 3 trailer release, Salman Khan's weird tweets leave fans perplexed
Salman is accompanied by Anil Kapoor, Bobby Deol, Jacqueline Fernandez and Daisy Shah in this action packed masala potboiler. We also saw a picture of Salman and the producer of the film Ramesh Taurani with Jammu and Kashmir's CM Mehbooba Mufti.

The benchmark 10-year note's yield climbed to 3.09% in afternoon trading, and it is up more than 67.1 basis points in 2018, according to data from bond platform Tradeweb.

TECH TUMBLES: A slide in technology stocks weighed on the market. The Nasdaq is up 4 percent. Agilent Technologies slid 9.2 percent to $62.88.

MARKETS OVERSEAS: In Europe, Germany's DAX fell 0.1 percent after new data showed the country's economy slowed in the first quarter.

ENERGY: Benchmark U.S. crude oil reversed an early side, rising 35 cents to settle at $71.31 a barrel in NY. Brent crude, used to price global oil, added 20 cents to $78.43 in London.

Small-company stocks fell. The Russell 2000 lost 6 points, or 0.4 percent, to 1,600. The Dow is on track for a gain of 2.2 percent, while the S&P 500 is closing in on a gain of 2.4 percent.

Home Depot Inc (HD.N) shares slipped 1.6 percent after the home improvement retailer missed sales forecasts as the long winter put a damper on demand for spring products.

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