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Barchart
Barchart
Rich Asplund

Stocks Slip on Higher Bond Yields and Chip Stock Weakness

The S&P 500 Index ($SPX) (SPY) today is down by -0.33%, the Dow Jones Industrials Index ($DOWI) (DIA) is down by -0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.48%.

Stocks today are moderately lower, giving back some of Thursday’s sharp gains.  Higher bond yields today are also dragging interest-rate-sensitive chip stocks lower.  Stocks are also under pressure today from some negative corporate news.  FedEx is down more than -15% after reporting Q1 adjusted EPS well below the consensus and cutting its 2025 adjusted EPS forecast.  Lennar is down more than -4% after reporting weaker-than-expected Q3 net new orders.  A +6% jump in Nike today limits losses in the Dow Jones Industrials.

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