Stock Market Today, Oct. 7: Markets Edge Lower as Treasury Yields Surge
The S&P 500 (SNPINDEX:^GSPC) fell 0.23% to 7,801 as investors pulled back from record levels, while the Nasdaq Composite (NASDAQINDEX:^IXIC) slipped 0.22% to 27,539 and the Dow Jones Industrial Average (DJINDICES:^DJI) lost 0.66% to 51,180. Gold prices fell 1.34% to $4,130.80 as of U.S. market close, the 10-Year Treasury yield declined 0.04% to 5.27%, and Utilities led the session while Real Estate lagged and Technology remained a notable gainer. Caterpillar (NYSE:CAT) shares fell 5.7% after a broker downgrade to hold, and Constellation Brands (NYSE:STZ) slid after reaffirming its annual profit forecast. Conversely, Intel (NASDAQ:INTC) gained on news regarding its Terafab project while Nvidia (NASDAQ:NVDA) attracted interest following reports of a potential multi-billion-dollar chip deal with SpaceX. Continue reading