US stock market = mixed expectations for strong performance; rising yields weigh on

The US stock market remained unstable, but the S&P 500 index closed higher. Photographed in February (2024 Reuters/Brendan McDermid)

NEW YORK (Reuters) – U.S. stock markets ended mixed on a volatile note. While rising U.S. bond yields will weigh on the market, strong corporate performance is expected, especially among high-tech giants.

The $70 billion auction of five-year U.S. bonds, the highest on record, pushed up Treasury yields and weighed on stock prices. The yield on the 10-year Treasury note rose 5 basis points (bp) to 4.6459%.

S&P General 500 (.SPX) New Tab opens new tabis almost flat. Dow(.DJI) New Tab opens new tabNASDAQ (.IXIC) declines New Tab opens new tabhas risen. Seven out of 11 sectors in the S&P 500 rose.

Meta Platforms (META.O) New Tab opens new tabThe stock fell 11% in after-hours trading. Sales in the first quarter exceeded expectations, but the company was disappointed by the company’s forecast that capital spending in 2024 would reach up to $40 billion.

Microsoft (MSFT.O) New Tab opens new taband alphabet (GOOGL.O) New Tab opens new tabwill also announce its financial results this week.

Tesla (TSLA.O) New Tab opens new tabrose 12%. The quarterly results announced the previous day were weak, but the company received support from the company’s announcement that it would bring forward new models to early 2025.

All eyes are on the first quarter US real gross domestic product (GDP) announced on the 25th and the March personal consumption expenditure (PCE) index announced on the 26th.

Boeing (BA.N) New Tab opens new tabfell 2.8%. The company was under pressure because its first quarter results showed a decline in sales for the first time in seven quarters.See more

Texas Instruments (TI) (TXN.O) New Tab opens new tabrose 5.6%. The outlook for the second quarter, which was announced when the company announced its financial results the previous day, exceeded market expectations.See more

Most semiconductor stocks performed well, with the Philadelphia Semiconductor Index (.SOX) New Tab opens new tabIt also closed with an increase.

Declining issues outnumbered advancing issues on the New York Stock Exchange by a ratio of 1.33 to 1. On the Nasdaq, there were also many stocks with a 1.22 to 1 decline.

The total trading volume on US exchanges was 10.2 billion shares. The average for the last 20 business days was 11.07 billion shares.

This is a provisional value based on LSEG data.Changes from the previous day may not match *US stock market

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Chibuike reports on Breaking News, with a focus on finance and markets. He previously covered US private equity firms, and holds master’s degrees in journalism from New York University and Edinburgh Napier University.

The article is in Japanese

Tags: stock market mixed expectations strong performance rising yields weigh Reuters

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