US Markets
Stocks slip as oil and yields keep pressure on the tape
A late-day wobble leaves major indexes lower, while energy and rate-sensitive corners move in opposite directions.
Stocks end lower in a broad pullback. The S&P 500 falls 0.48% to 7,636.3599, the Nasdaq Composite loses 0.64% to 26,253.3398, the Dow drops 0.77% to 52,380.6602, and the Russell 2000 slides 1.32% to 2,921.2344. All four sit above their 200-day averages, but the day’s move shows buyers did not carry the rally through the close.
The sector split is blunt. Energy rises 0.83%, while Tech finishes flat. Every other sector is down, led by Industrials at 1.51% and Discretionary at 1.34%. Utilities and Staples also fall more than 1%, which usually signals a wider risk-off session rather than a narrow rotation.
Options flow points to plenty of hedging. The SPY put-call ratio is 1.31 with 3,834,432 puts versus 2,931,113 calls. QQQ is also tilted defensive, with a 1.12 put-call ratio and 2,841,909 puts against 2,538,551 calls.
The intraday S&P 500 path is choppy rather than dramatic. It opens near 7,653.65, spends most of the day grinding around 7,640 to 7,646, and finishes near 7,637.70. The tape never really breaks out of that range, then gives back the last bit of ground into the close.