US Markets
Stocks end mixed as yields rise and defensives hold up
The major averages stay near flat, but rate-sensitive pockets and a few defensive groups show where traders are leaning.
U.S. stocks finish in a tight range and close slightly lower overall. The S&P 500 slips 0.0% to 7675.7, the Nasdaq falls 0.1% to 26130.2, the Dow loses 0.2% to 53463.9, and the Russell 2000 drops 0.1% to 3005.9. The S&P never really breaks out of its range, spending most of the day between 7660.0 and 7690.6 before ending at 7675.7.
The sector board is choppy, not one-way. Industrials lead with a 1.1% gain, followed by Tech and Energy, both up 0.6%, and Utilities up 0.5%. On the other side, Health falls 1.0%, Discretionary drops 0.7%, and Real Estate loses 0.6%. That mix fits a market that is not making a big macro statement by the close.
Volatility edges lower. The VIX falls 1.6% to 15.21, while the 9-day measure sits at 13.33 and the 3-month and 6-month terms are higher at 17.99 and 20.64. In options, SPY puts outnumber calls 477,310 to 427,318, and QQQ puts edge calls 365,217 to 349,003.
Among the day’s most active names, NVDA trades 145,070,184 shares and ends down 1.6%, while INTC rises 0.9% on 72,044,374 shares. On the watchlist, ORCL gains 2.8%, PLTR rises 2.8%, and QCOM adds 2.0%. MRNA falls 5.8%, LLY drops 3.6%, and COIN loses 2.9%.