Live Nasdaq Composite: Markets in Doldrums as Treasury Yields Rise
Live Updates Live Coverage Updates appear automatically as they are published. UNH Downgrade 10:08 am by Gerelyn Terzo UnitedHealth Group (NYSE: UNH) stock is falling 4.3% today, adding to its recent woes. HSBC analysts downgraded the stock, saying that a recovery could be “delayed.” In recent weeks, the company’s CEO resigned. CFRA was an early […] The post Live Nasdaq Composite: Markets in Doldrums as Treasury Yields Rise appeared first on 24/7 Wall St..
Live Updates
UNH Downgrade
UnitedHealth Group (NYSE: UNH) stock is falling 4.3% today, adding to its recent woes. HSBC analysts downgraded the stock, saying that a recovery could be “delayed.” In recent weeks, the company’s CEO resigned. CFRA was an early mover on UNH stock, downgrading shares to a “sell” back in Q1 and sending up a warning signal on the stock. UNH stock is down 39.3% year-to-date.
This article will be updated throughout the day, so check back often for more daily updates.
The markets are extending their losses this morning, with all three of the major stock market averages trading lower out of the gate. Bond yields are rising, with the 30-year Treasury yield crossing 5%. The Dow Jones Industrial Average is sinking by over 300 points, while the tech-heavy Nasdaq Composite and S&P 500 are losing about 0.55% apiece.
Google parent company Alphabet (Nasdaq: GOOGL) is a bright spot, rising 1.8% today. The company, which is currently holding its I/O developer event in California, unveiled Android XR glasses, real-time translation in Google Meets and tipped its hand to a paid subscription for AI users. Nvidia (Nasdaq: NVDA) CEO Jensen Huang cheered the Trump administration’s move to revise curbs on AI chip exports to China.
Discount retailer Target (NYSE: TGT) reported weaker-than-expected quarterly results, including a 2.8% drop in sales. Things could get worse before they get better, as the retailer lowered its full-year outlook, attributing it to consumer uncertainty surrounding tariffs. Target is bracing for a sales decline in the low single-digit range for its current fiscal year. The stock (NYSE: TGT) is spiraling by 6.8% today.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 385.33 (-0.90%)
Nasdaq Composite: Down 107.70 (-0.56%)
S&P 500: Down 35.69 (-0.60%)
Market Movers
Target wasn’t the only retailer to report its quarterly results. TJX Companies (NYSE: TJX), parent of discount brand retailer TJ Maxx, managed to surpass Wall Street sales estimates but chose to leave its full-year guidance intact. TJX has benefited from economic uncertainty as consumers reassess their spending habits and turn to lower-priced brand items.
Palo Alto Networks (Nasdaq: PANW) is losing 6.9% today after reporting its Q3 results. Nevertheless, Morningstar analysts believe the company is capturing a bigger piece of the market share pie.
Super Micro Computer (Nasdaq: SMCI) is advancing 2.7% on the day. The company is exploring a potential U.S. expansion push.
Fair Isaac Corp (NYSE: FICO) is down 11% today after a federal housing official questioned its pricing model. This is a big week for the housing industry, with existing and new home sales data due out later this week.
The post Live Nasdaq Composite: Markets in Doldrums as Treasury Yields Rise appeared first on 24/7 Wall St..
