The stock market opened lower today, with the SPY ETF down 0.45% amid a rising bond yield environment. The Dow Jones Industrial Average fell over 300 points, while both the Nasdaq Composite and S&P 500 declined over 0.50%. Target reported a 2.8% drop in sales and lowered its full-year forecast due to consumer uncertainty, leading to a 6.8% decrease in its stock. Contrarily, Alphabet saw a 1.8% increase in stock value, buoyed by innovation announcements at its I/O developer event.
The S&P 500 is facing early losses amid rising bond yields, with major stock indexes all retreating significantly from yesterday's highs, highlighting market volatility.
Target's disappointing quarterly earnings showed a 2.8% sales decline and prompted the retailer to lower its outlook for the year, raising concerns about consumer spending.
Google's stock rose 1.8% amidst its I/O developer event, where the company unveiled new tech products and hinted at new subscription models for AI services.
As the markets waver, Nvidia's CEO supported administration policies on AI chip exports to China, indicating a potential shift in the tech supply landscape.
Collection
[
|
...
]