Stock market today: Wall Street drifts in mixed trading following a four-day losing streak
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The S&P 500 was 0.1% lower, coming off its fourth straight loss. The Dow Jones Industrial Average was up 117 points, as of 9:45 a.m. Eastern time, and the Nasdaq composite was 0.3% lower. Elevance Health climbed 4.2% after raising its profit forecast for the full year. Homebuilder D.R. Horton rose 3.5% after reporting stronger profit and revenue for the latest quarter than analysts expected. Equifax dropped 8.2% after reporting weaker revenue for the latest quarter than expected. Yields in the bond market are rising, putting pressure on stocks. Traders are now forecasting just one or two cuts to rates this year, down from expectations for three cuts at the start of the year. In the bond market, the yield on the 10-year Treasury rose to 4.62% from 4.59% late Wednesday. The two-year Treasury yield rose to 4.97% from 4.94%. Comerica rose 2.7% after giving better-than-expected profit forecasts for 2024. Alaska Air took a $162 million hit in its most recent quarter after grounding its entire Boeing 737 Max fleet, but it projected better-than-expected profits for the current quarter. Las Vegas Sands dropped 6.9% despite reporting better results than expected. Indexes in Europe were moving only modestly, while South Korea's Kospi jumped 2%.

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https://apnews.com/article/stock-market-shares-rates-treasury-c8cc2e5f5ac2b5cd47143dd2ee0920ea