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Barchart
Barchart
Rich Asplund

Stocks Give Up Early Gains as Bond Yields Soar

The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.09%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.47%.  Dec E-mini S&P futures (ESZ24) are down -0.09%, and Dec E-mini Nasdaq futures (NQZ24) are down -0.48%.

Stock indexes on Thursday gave up an early advance and mainly settled lower, with the S&P 500 sliding to a 1-month low and the Nasdaq 100 dropping to a 2-week low.  Stocks on Thursday added to Wednesday’s sharp losses as bond yields soared after the FOMC signaled only 50 bp of rate cuts next year, down from 100 bp of rate cuts projected in September. 

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