In the latest market session, US benchmark equity indexes experienced a downward trend as traders positioned themselves before the upcoming release of financial results from several major corporations later this week. The Dow Jones Industrial Average fell by 0.9%, closing at 42,905.3 points. Concurrently, the S&P 500 decreased by 0.4%, settling at 5,843.5 points, while the Nasdaq Composite index showed little variation, remaining nearly unchanged at 18,488.5 points.
Within the sectors, real estate exhibited the most significant decline, whereas technology stood out as the only sector to report gains amid the broader market pullback. Among the prominent companies anticipated to unveil their quarterly results in the coming days are industry giants such as Tesla, Boeing, Coca-Cola, T-Mobile US, IBM, GE Aerospace, Philip Morris International, Verizon Communications, AT&T, Lockheed Martin, United Parcel Service, and Southwest Airlines.
The market is keeping a close watch on these earnings as they may provide insight into the health of the economy and consumer spending trends. Additionally, Nucor, W. R. Berkley, and Logitech International are scheduled to disclose their earnings after the closing bell on Monday, adding to investor anticipation as the financial week unfolds. On the bond market front, the US 10-year yield witnessed an uptick of 11.1 basis points, reaching a new rate of 4.19%.
The two-year rate also saw an increase, rising by 6.8 basis points to a level of 4.02%. This surge in yields reflects ongoing adjustments in investor sentiments regarding inflation and interest rates. In commodity markets, West Texas Intermediate crude oil prices rose by 1%, trading at $70.59 per barrel.
This increase reflects ongoing dynamics in supply and demand factors that are impacting oil prices globally..