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July 15, 2021, 4:10 p.m. EDT

Nasdaq logs longest losing skid in 2 months as chip makers get hit; 10-year Treasury yields below 1.30%

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By Mark Decambre

U.S. stocks ended mostly lower Thursday, with the S&P 500 and Nasdaq Composite finishing down on the session as investors weighed mostly upbeat U.S. economic data, corporate earnings and a second day of testimony by Federal Reserve Chairman Jerome Powell. The Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -1.83% closed off 0.7% at around 14,543, marking the third straight decline, its longest losing skid since a similar period ended May 19, weighed in part by a sharp drop in chip makers /zigman2/quotes/209255350/composite SOXX -0.80% . The declines for yield-sensitive technology and tech-related stocks came even as the 10-year Treasury note yield /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +1.80% fell below 1.30% on the day. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.18% closed off 0.3% at about 4,360, while the Dow Jones Industrial Average ended 0.2% higher at 34,987, buoyed by shares of UnitedHealth Group Inc. /zigman2/quotes/210453738/composite UNH +0.03% and Honeywell International Inc. /zigman2/quotes/205583690/composite HON -1.39% . In economic news, initial jobless claims fell by 26,000 to 360,000 in the seven days ended July 10, matching the forecast of economists polled by The Wall Street Journal. Meanwhile, Powell, in an appearance before the Senate Banking Committee, repeated his message from the previous day when he testified before a House panel, telling lawmakers that inflation has risen significantly and would likely remain high for a few months before moderating.

/zigman2/quotes/210598365/realtime
US : Nasdaq
15,254.05
-283.64 -1.83%
Volume: 5.47M
Dec. 1, 2021 5:16p
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/zigman2/quotes/209255350/composite
US : U.S.: Nasdaq
$ 525.01
-4.23 -0.80%
Volume: 1.04M
Dec. 1, 2021 4:00p
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.43
+0.03 +1.80%
Volume: 0.00
Dec. 1, 2021 11:47p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,513.04
-53.96 -1.18%
Volume: 3.04B
Dec. 1, 2021 5:04p
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/zigman2/quotes/210453738/composite
US : U.S.: NYSE
$ 444.34
+0.12 +0.03%
Volume: 4.33M
Dec. 1, 2021 4:00p
P/E Ratio
27.56
Dividend Yield
1.31%
Market Cap
$418.39 billion
Rev. per Employee
$779,215
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/zigman2/quotes/205583690/composite
US : U.S.: Nasdaq
$ 199.42
-2.82 -1.39%
Volume: 3.12M
Dec. 1, 2021 4:00p
P/E Ratio
25.65
Dividend Yield
1.97%
Market Cap
$139.23 billion
Rev. per Employee
$316,893
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