Nasdaq Ends Higher, While S&P and Dow Jones Retreat on Risk Aversion
Stock markets have been absolutely surging in Autumn and yesterday the Nasdaq index ended higher again, but S&P 500 and Dow Jones retreated. However, the SPX and DJIA indexes have been making record highs in recent weeks, so it was time for a pullback so buyers could catch their breath.
As US 10-year yields climbed by 10 basis points to 4.17%, their highest since late July, the US dollar strengthened to its best levels in over a week. The USD/JPY crossed the 151 mark, leading to declines in both risk assets and safe havens. Commodity prices and stock markets also took a hit, while European indices closed the day in the red. Despite this, the Nasdaq managed to post gains for another session. While recent data offers some optimism, significant challenges remain for China’s economic recovery, which contributed to the rise in its markets today.
Nasdaq Chart Daily – Keeping the Bullish Trend Going, Supported by MAs
Closing Prices for Main European Bourses
- German DAX: -1.02%
- France’s CAC: -1.01%
- UK’s FTSE 100: -0.48%
- Spain’s Ibex: -0.71%
- Italy’s FTSE MIB: -0.71%
On the other side of the Atlantic, there were mixed closing results for the major US market indices. With a drop of -0.8%, the Dow industrial average was the largest loser. The S&P followed up with a decrease of -0.2% after the record highs last week, while the NASDAQ index increased by 0.3%.
Dow Jones Major Losers Today:
- American Express: -2.19%
- Merck & Co: -2.17%
- Travelers: -2.17%
- Home Depot: -2.06%
- Goldman Sachs: -2.02%
Major Dow Jones Stocks in Gains
- Trump Media & Technology Group: +5.81%
- NVIDIA: +4.14%
- Boeing (Dow stock): +3.11%
- Zoom Video: +2.34%
- SoFi Technologies: +2.21%
- Uber Tech: +1.68%
- Fortinet: +1.25%
- AMD: +1.24%
S&P 500 Live Chart
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