As of 11:37 AM ET, the Dow Jones Industrial Average (DJINDICES:^DJI) is up 0.27% to 53,419.17, outperforming the S&P 500 (SNPINDEX:^GSPC), which is down 0.23% to 7,656.50, and the Nasdaq Composite (NASDAQINDEX:^IXIC), which has slipped 0.44% to 26,066.56 as tech-sector…
latility offsets blue chip gains. Gold is up 1.20% to $4,671.09, while the 10-Year Treasury yield is down 0.04% to 4.69%
Communication Services and financials lead sector gainers relative to lagging technology, energy, and industrial stocks. Today’s biggest moves Applied Optoelectronics plunged 11% this morning after announcing a $600 million equity offering, while PDD Holdings, the parent company of Pinduoduo, which owns popular online retailer Temu, rose, then fell following its quarterly earnings. Nvidia Corporation slid ahead of this week’s earnings.
What this means for investors Last week’s bond market sell-off and uncertainty about what shape U.S. sanctions against Iran might take continue to pressure markets. The Dow held strong while semiconductors weighed on the Nasdaq this morning, suggesting investors are rotating out of riskier tech stocks and into blue chips. This week will see high-stakes earnings from Nvidia, CrowdStrike, and Marvell Technology, as well as further inflation and consumer confidence data.