US stocks jitter as yields rise, earnings ahead, CPI inflation tomorrow

Major US indexes all closed lower on worries about higher rates, higher inflation, slower global growth, recession and more.

  • S&P and NASDAQ closed lower for the second day in a row
  • S&P closed below its 200 hourly moving average at 4420.58
  • The NASDAQ broke below its 200 hourly moving average at 13707 and closed near session lows and down more than 2%
  • The NASDAQ is down almost 6% since the start of the month
  • All 11 S&P sectors fell, led by energy (-3.1%), technology (-2.6%) and healthcare (-2.0%)

Final figures show:

  • Dow Industrial Average down -413.04 points or -1.19% to 34308.07
  • S&P index down -75.73 points or -1.69% to 4412.54
  • NASDAQ index down -299.03 points or -2.18% to 13411.97
  • Russell 2000 down -14.23 points or -0.71% to 1980.32

As mentioned, the S&P index fell below its 200 hourly moving average for the first time since March 17. This moving average stands at 4420.58. Stay below it is more negative.

S&P closes below its 100 hourly moving average

The 10-year yield is trading up to 2.784% and the highest level since January 14, 2019

US 10-year yield

US 10-year yield hits highest level since early 2019


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