Update: US Equity Indexes Mixed as IBM Sell-Off Hits Dow, Cooling Inflation Eases Interest-Rate Pressure
(Updates with index/price moves and geopolitical news from the first paragraph.) US equity indexes traded mixed as a sell-off in IBM (IBM) shares restrained the Dow Jones Industrial Average, while the Nasdaq Composite and the S&P 500 rose after the steepest drop in inflation in more than six years sent government bond yields sharply lower. The tech-heavy Nasdaq advanced 1.1% to 26,146.1, with the S&P 500 up 0.5% to 7,550.2 ahead of Tuesday's close. The Dow Jones Industrial Average bucked the trend, trading steady at 52,547.8. Interest-rate sensitive sectors, technology, and communication services, led gainers amid a broad-based rally. Healthcare, consumer staples, and real estate were the only decliners. IBM shares sank 24%, the most on the Dow and the S&P 500, after the tech giant issued Q2 guidance below analysts' expectations. Looking at gains from the top 20 companies with market capitalizations exceeding $200 billion, half were from the semiconductor industry, according to data compiled by Finviz. The top gainer was SK Hynix, up 24%, following its Nasdaq debut last Friday. The US seasonally adjusted consumer price index fell by 0.4% month-over-month in June, the.
(Updates with index/price moves and geopolitical news from the first paragraph.) US equity indexes traded mixed as a sell-off in IBM (IBM) shares restrained the Dow Jones Industrial Average, while the Nasdaq Composite and the S&P 500 rose after the steepest drop in inflation in more than six years sent government bond yields sharply lower.
The tech-heavy Nasdaq advanced 1.1% to 26,146.1, with the S&P 500 up 0.5% to 7,550.2 ahead of Tuesday's close.
The Dow Jones Industrial Average bucked the trend, trading steady at 52,547.8.
Interest-rate sensitive sectors, technology, and communication services, led gainers amid a broad-based rally.
Healthcare, consumer staples, and real estate were the only decliners.
IBM shares sank 24%, the most on the Dow and the S&P 500, after the tech giant issued Q2 guidance below analysts' expectations.
Looking at gains from the top 20 companies with market capitalizations exceeding $200 billion, half were from the semiconductor industry, according to data compiled by Finviz.
The top gainer was SK Hynix, up 24%, following its Nasdaq debut last Friday.
The US seasonally adjusted consumer price index fell by 0.4% month-over-month in June, the.