“`markdown
The S&P 500 Index is down 0.43% today, while the Dow Jones Industrial Average is up 0.19%. The Nasdaq 100 Index has seen a more significant decline, dropping 1.41%, marking a three-week low. The broader market is under pressure largely due to weakness in chipmakers and AI-infrastructure stocks, as well as the fallout from failed trade talks between Canada and the U.S., which resulted in a 50% tariff on approximately $20 billion of Canadian goods set to take effect soon.
Economic indicators include a drop in the July Chicago Fed national activity index to -0.08, slightly above expectations of -0.09. Additionally, the yield on the 10-year Treasury note has decreased by 2 basis points to 4.71% amid falling crude oil prices, which are down over 2%. In earnings news, S&P 500 companies are expected to see growth of nearly 32% for Q2, exceeding prior projections of 23%, driven by AI spending.
T-note prices are climbing today, supported by weak stock market performance. However, upcoming Treasury auctions totaling $211 billion this week may limit further gains. Markets are currently pricing in a 40% chance of a 25 basis point rate hike at the next Federal Open Market Committee meeting on September 15-16.
“`
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
