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“Sameach Pesach”
Holy [Maundy] Thursday
By Staff Reporters
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| Markets: The NASDAQ extended its losing streak for a third day yesterday amidst a mixed showing for stocks overall. Among the tech stocks having a rough day was cybersecurity giant Zscaler, as investors got new data suggesting the labor market may be cooling (setting off recession jitters again). |
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This week’s economic numbers “all point to a softening economy,” but not necessarily a “soft landing,” says Kevin Gordon, senior investment strategist at the Schwab Center for Financial Research. An economic slowdown that averts recession “is what the Fed is looking for, but the market is saying today—with both stock prices and bond yields lower—that recession fears are outweighing hopes for a soft landing,” Kevin says.
CITE: https://www.r2library.com/Resource
Here’s how the major indexes performed:
- The S&P 500® Index fell 10.22 points (0.3%) to 4090.38; the Dow Jones industrial average rose 80.34 (0.2%) to 33482.72; the NASDAQ Composite fell 129.47 (1.1%) to 11996.86.
- The 10-year Treasury yield fell about 3 basis points to 3.309%.
- CBOEs Volatility Index was up 0.12 at 19.12.
Among S&P 500 sectors, consumer discretionary and industrial stocks led declines. One bright spot was the healthcare sector, which jumped nearly 2%, helped by gains in Johnson & Johnson (JNJ) and Eli Lilly (LLY). Recession concerns weighed particularly heavily on small-cap stocks, as the Russell 2000 index dropped near a two-week low. WTI crude futures fell slightly but remained above $80 a barrel and near two-month highs.
Gold futures extended this week’s rally and ended at a 13-month high.
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Filed under: Alerts Sign-Up, Experts Invited, Financial Planning, Glossary Terms, Health Economics, iMBA, Inc., Investing, LifeStyle | Tagged: asian markets, “Sameach Pesach”, CBOES, crude oil, DJIA, DOW, economy, european markets, gold, Kevin Gordon, markets, Maundy Thursday, NASDAQ, oil, S&P 500, Schwab, softening economy, volatiliy index, WTI |
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