On Thursday, the sentiment in the stock market was mixed – the tech industry seemed poised for a significant rally after leading chipmaker Nvidia’s impressive quarterly earnings report. Despite that, traders were still cautious due to the ongoing debt deal negotiations between President Joe Biden and the House Republicans. Additionally, the first-quarter GDP report and housing market data, as well as the rising bond yields, were also on traders’ minds.
Wednesday’s Trading Recap:
The Dow Industrials fell below the psychologically crucial level of 33,000, ending on a weak note. Both the S&P 500 Index and the Nasdaq Composite were also lower for a second consecutive day. The energy sector, as well as real estate, financial, material and technology stocks, came under intense selling pressure.
| Index | Performance (+/-) | Value | |
|---|---|---|---|
| Nasdaq Composite | -0.61% | 12,484.16 |
