US Markets
Tech drags as oil and yields keep pressure on stocks
Stocks finish mixed, with energy and staples in the green while tech and crypto take the biggest hit.
The major U.S. indexes do not move as a group. The S&P 500 falls 0.5% to 7,765.4 and the Nasdaq Composite drops 1.3% to 27,193.3, while the Dow adds 0.1% to 51,231.6 and the Russell 2000 edges up 0.03% to 2,794.1. That mix points to rotation, not a one-way move.
Tech is the clear laggard, down 1.8%, and the Nasdaq’s decline is the sharpest among the major benchmarks. CNBC reports Nvidia, Oracle, CoreWeave and other AI stocks sink after an OpenAI revenue report, and that lines up with the day’s weakness in large-cap growth names.
Energy is the standout winner, up 3.0%, with crude prices moving higher. WTI rises 3.2% to $91.1 and Brent jumps 3.7% to $103.9. Staples also climb 2.1%, while Financials gain 0.9% and Communication Services add 0.7%.
Treasury yields stay elevated, with the 10-year at 5.231% and the 30-year at 5.606%. CNBC says yields are still 'really, really high' even after pulling back from recent multiyear highs. That keeps pressure on rate-sensitive corners of the market.
The day’s biggest names are split too. Intel drops 5.3%, Oracle falls 5.5%, and Micron loses 4.8% among the heavy losers. On the upside, Home Depot rises 3.4%, Chevron gains 3.1%, and Netflix adds 2.7%.