US Markets
Stocks fade as oil and yields push higher
A softer tape, a hotter energy complex, and a busy earnings and macro calendar keep traders defensive.
U.S. equities spend the day in the red. The S&P 500 finishes at 7,709.96, down 0.2%, while the Nasdaq Composite slips 0.1% to 26,348.3516. The Dow Jones loses 0.9% to 53,885.1016, and the Russell 2000 falls 0.6% to 3,001.5474.
The sector board is uneven. Energy leads with a 1.5% gain, helped by a jump in WTI crude to 78.07. Comm Svcs rises 0.3% and Health adds 0.2%, while Materials and Industrials each fall 0.9%. Real Estate drops 0.9%, Financials lose 0.3%, and Tech slips 0.3%.
The mood is still relatively calm under the surface. The VIX falls 4.2% to 15.15, and the 9-day VIX measure drops 24.9% to 12.66. That said, the options market is still leaning cautious, with SPY put volume at 1,021,281 versus 807,838 calls, and a put-call ratio of 1.26.
Individual names move hard in both directions. CNBC Earnings says Airbnb stock soars 9% after an earnings and revenue beat with strong third-quarter guidance, while MarketWatch says Honeywell Aerospace gets hit after gloomy guidance. AppLovin, HubSpot, Datadog, and Peloton also show up among the biggest losers.