Dow snaps historic win streak as US stocks fall amid more earnings results

US Stocks Slide; Dow Jones Industrial Average Snaps Streak As Yields Climb

US stocks dropped on Thursday, and the Dow Jones Industrial Average closed in the red to snap its historic 13-day winning streak. Treasury yields surged higher after second-quarter GDP growth of 2.4% beat expectations.

The 10-year treasury yield popped back above 4% as investors speculated that the Federal Reserve may be slower to act on promises to dial back interest rates. The notable decline in stocks was led by Honeywell, coupled with other Dow components like JPMorgan and Microsoft that fell after issuing unfavorable earnings or facing regulatory action.

At the same time, investors marked up the Meta Platforms stock after their better-than-expected earnings report. The company’s competitor, Twitter-respondent Threads has seen a stock rise due to interests by CEO. Mark Zuckerberg. Here are where US indexes closed out the market on Thursday:

S&P 500: 4,537.46 – down 0.64%
Dow Jones Industrial Average : 35,282.72 – down 0.67% (237.40 points)
Nasdaq Composite : 14,050.11 – down 0.55%

Elsewhere, a top real estate economist has proclaimed the end of the housing recession. Analysts have also noted the similarity in stock market activity to the early dot-com days versus the peak of the bubble. Analyst Jeremy Siegel has reported on the positive news that recently catapulted stocks. Furthermore, Vanguard recently paused this outlook prepare investors for a decade of strong returns. Investing in Alaska has also emboldened—with a 50-fold increase total linked to leading-edge tech company, Nvidia. Finally, Thursday saw commodities, bonds, and cryptocurrencies reacting differently to a volatile financial landscape.

Robert Wilson author
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