The major US stock indices are closing lower with the Nasdaq and the Russell 2000 leading the declines.Sharply higher yields and higher oil were the catalysts for the declines.
Looking at the major indices:
- Dow industrial average fell -537.07 or -1.07% at 49530.94..
- S&P index fell -92.76 points or -1.24% at 7408.49
- NASDAQ index fell -410.08 points or -1.54% at 26225.14.
The small-cap Russell 2000 tumbled -69.70 points or -2.44% at 2793.29.
For the trading week, the declines today erased the gains from earlier in the week:
- Dow industrial average fell -0.17%
- S&P index rose 0.13%
- NASDAQ index fell -0.08%
The Russell 2000 could not escape the higher yield headwind and declined -2.373%.
Some of the large-cap losers for the week included:
- Raytheon: -17.17%
- Shake Shack: -13.89%
- Intel: -12.93%
- Super Micro Computer: -12.27%
- Teladoc: -12.14%
- GameStop Corp: -11.08%
- Whirlpool: -11.05%
- SanDisk: -9.90%
- Moderna: -9.73%
- Alaska Air: -9.55%
Some of the notable winners for the week included:
- Nebius NV: +24.19%
- Cisco: +22.41%
- Palo Alto Networks: +16.84%
- CrowdStrike Holdings: +12.61%
- Occidental: +12.41%
- Papa John’s: +11.53%
- Figma: +10.94%
- Exxon Mobil: +9.23%
- Vertiv Holdings: +9.11%
- Ford Motor: +8.93%
- CF Industries: +8.89%
- Fortinet: +7.66%
- Stryker: +7.46%
Mag 7 performance this week:
- NVIDIA: +4.70%
- Apple: +2.36%
- Microsoft: +1.64%
- Meta Platforms: +0.76%
- Alphabet A: -1.00%
- Tesla: -1.43%
- Amazon.com: -3.11%
NVIDIA led the gains this week, extending its AI-driven momentum, while Apple and Microsoft also posted solid advances
US major indices close lower. Declines today erase the week’s gains.
