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Nov. 23, 2021, 4:10 p.m. EST

Nasdaq Composite posts back-to-back declines as bond yields add to gains but Dow, S&P 500 end higher

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By Mark Decambre

U.S. technology stocks ended lower on Tuesday as Treasury yields extended a rise, but the S&P 500 snapped a two-session slide to end higher, powered by gains in energy /zigman2/quotes/206420077/composite XLE -1.98% /zigman2/quotes/210600521/delayed XX:SP500.10 -1.95% and financials /zigman2/quotes/209660484/composite XLF -2.05% /zigman2/quotes/210599854/delayed XX:SP500.40 -2.02% . The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.30% closed up 0.6%, or 195 points, at around 35,813, on a preliminary basis, on the back of gains from Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS -1.20% and UnitedHealth Group Inc. /zigman2/quotes/210453738/composite UNH -0.40% . The S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.89% closed 0.2% higher at about 4,690, while the technology-laden Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -2.72% closed down 0.5% at 15,775, marking its second straight decline. The slump for the Nasdaq Composite came as the benchmark 10-year Treasury note rose to yield 1.665% to mark its highest yield since Oct. 21, according to Dow Jones Market Data. In corporate news, shares of Zoom Video Communications Inc. /zigman2/quotes/211319643/composite ZM -5.23% fell nearly 15% after company executives detailed falling revenue on a conference call late Monday. In economic data, a pair of surveys by IHS Markit showed U.S. businesses grew rapidly in November, even as they're still being hampered by labor and supply shortages that are feeding the biggest burst of inflation in 31 years. In other markets, oil futures /zigman2/quotes/211629951/delayed CL.1 +0.74% climbed after the White House announced a plan to release 50 million barrels of oil from the U.S. Strategic Petroleum Reserve. U.S, markets will be closed on Thursday in observance of Thanksgiving and will end early on Friday.

/zigman2/quotes/206420077/composite
US : U.S.: NYSE Arca
$ 62.45
-1.26 -1.98%
Volume: 57.27M
Jan. 21, 2022 4:00p
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/zigman2/quotes/210600521/delayed
add Add to watchlist XX:SP500.10
XX : S&P US
476.81
-9.50 -1.95%
Volume: 0.00
Jan. 21, 2022 4:52p
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/zigman2/quotes/209660484/composite
US : U.S.: NYSE Arca
$ 38.20
-0.80 -2.05%
Volume: 117.91M
Jan. 21, 2022 4:00p
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/zigman2/quotes/210599854/delayed
add Add to watchlist XX:SP500.40
XX : S&P US
635.39
-13.09 -2.02%
Volume: 420.80M
Jan. 21, 2022 4:52p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,265.37
-450.02 -1.30%
Volume: 523.88M
Jan. 21, 2022 4:52p
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 343.91
-4.19 -1.20%
Volume: 4.90M
Jan. 21, 2022 4:00p
P/E Ratio
5.79
Dividend Yield
2.33%
Market Cap
$115.14 billion
Rev. per Employee
$1.60M
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/zigman2/quotes/210453738/composite
US : U.S.: NYSE
$ 461.17
-1.83 -0.40%
Volume: 4.27M
Jan. 21, 2022 4:00p
P/E Ratio
25.50
Dividend Yield
1.26%
Market Cap
$434.35 billion
Rev. per Employee
$871,506
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/zigman2/quotes/210599714/realtime
US : S&P US
4,397.94
-84.79 -1.89%
Volume: 3.20B
Jan. 21, 2022 4:52p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
13,768.92
-385.10 -2.72%
Volume: 5.01M
Jan. 21, 2022 5:16p
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/zigman2/quotes/211319643/composite
US : U.S.: Nasdaq
$ 147.66
-8.15 -5.23%
Volume: 5.72M
Jan. 21, 2022 4:00p
P/E Ratio
39.28
Dividend Yield
N/A
Market Cap
$44.00 billion
Rev. per Employee
$884,435
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/zigman2/quotes/211629951/delayed
US : U.S.: Nymex
$ 85.77
+0.63 +0.74%
Volume: 33,607
Jan. 23, 2022 11:28p
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