AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Wall Street’s main indices edged lower on Monday, April 18, after bond yields climbed to a fresh three-year high in anticipation of the Federal Reserve’s aggressive rate hike to calm inflation.
The S&P 500 fell 0.02% to 4,391.69. The Dow Jones declined 0.11% to 34,411.69. The NASDAQ Composite dropped 0.14% to 13,332.36, and the small-cap Russell 2000 was down 0.74% to 1,990.13.
The traders will keep a close watch on the earnings calendar this week, with big companies like Netflix (NFLX) and Tesla, Inc. (TSLA) reporting quarterly earnings.
The new earnings season got underway last week. The corporate earnings would indicate whether the record inflation and the macroeconomic tensions impacted their profits.
On Monday, investors kept away from the growth stocks as the rate fear loomed.
The energy and financial sectors were the top gainers on the S&P 500 index. Healthcare and consumer staples were the bottom movers. Five of the 11 sectors stayed in the green.
In corporate earnings, the Bank of America Corp (BAC) reported strong first-quarter earnings, topping Wall Street estimates, driven by its consumer lending business. The stock rose 4.22% after the results.
Shares of Charles Schwab Corporation (SCHW) tumbled 8.76% after the company reported weak first-quarter earnings, missing estimates. Its trading activity declined in the first quarter.
The Tesla, Inc. (TSLA) stock surged 2.56% in intraday trading ahead of its quarterly results on Wednesday. Tesla was planning to reopen its Shanghai plant after a three-week shutdown due to covid.
In the energy sector, Chevron Corporation (CVX) increased by 1.34%, ConocoPhillips (COP) rose 2.07%, and Equinor ASA (EQNR) gained 1.38%. Canadian Natural Resources Limited (CNQ) and Occidental Petroleum Corporation (OXY) advanced 2.14% and 3.42%, respectively.
In financial stocks, JPMorgan Chase & Co. (JPM) soared 1.86%, Wells Fargo & Company (WFC) surged 1.77%, and Morgan Stanley (MS) grew 2.03%. American Express Company (AXP) and Citigroup Inc. (C) ticked up 1.83% and 2.71%, respectively.
In the healthcare sector, Johnson & Johnson (JNJ) decreased by 1.25%, Pfizer Inc. (PFE) declined by 2.41%, and Eli Lilly and Company (LLY) fell by 1.01%. AbbVie Inc. (ABBV) and Abbott Laboratories (ABT) plummeted by 1.82% and 1.19%, respectively.
In the crypto space, the global crypto market cap declined 0.10% to US$1.88 trillion at 4:36 pm ET on April 18. Bitcoin (BTC) increased by 0.78% to US$40,707.18, while Ethereum (ETH) dropped by 1.32% to US$3,012.42.
Also Read: Why Casa Systems (CASA) stock surged over 55% today?
Also Read: What is Pacman Frog (PAC) crypto and why is it trending?
Also Read: Why is Audius (AUDIO) crypto rising?
Futures & Commodities
Gold futures were up 0.33% to US$1,981.40 per ounce. Silver increased by 1.37% to US$26.052 per ounce, while copper rose 1.72% to US$4.8048.
Brent oil futures increased by 0.85% to US$112.65 per barrel and WTI crude was up 0.48% to US$106.89.
Also Read: Is Algorand (ALGO) crypto darkening Times Square for Earth Day?
Bond Market
The 30-year Treasury bond yields were up 0.93% to 2.944, while the 10-year bond yields rose 1.52% to 2.851.
US Dollar Futures Index increased by 0.47% to US$100.793.
