US major indices close lower, but it could have been worse

The major US indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Read this Term are all closing lower with the Dow Industrial Average leading the way with a decline of near 1%. However, things could have been worse.

• The Dow industrial average was down as much as 517.18 points
• the S&P index was down as much as -61.76 point
• the NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term and the exposed down as much as 224.40 points

By the close, those levels are more bearable (but still lower). The final numbers show:

• Dow industrial average fell -365.94 points or -1.07% at 33922.73
• S&P index fell -35.15 points or -0.79% at 4411.66
• NASDAQ fell -112.62 points or -0.82% at 13679.03

Markets were spooked by stronger ADP jobs report and also the ISM nonmanufacturing service PMI. Two-year yield is trading around 5% but was as high as 5.118%. The 10-year yield is at 4.037%, up 9.2 basis points. It high yield rate reached 4.081%.

Comments from Dallas Fed President Lorie Logan also tilted the bias for rates and stocks lower.

Logan expressed that she would have been comfortable with a rate hike in June. She believes that additional rate hikes are likely needed and expressed concern about whether inflation will subside quickly enough. Logan attributed the decision to pause in June to the challenging and uncertain economic environment. She also noted that the process of rebalancing the economy has been slower than anticipated and expressed skepticism about the delayed impact of previous rate hikes by the Fed. Logan suggests that the housing market may have reached its lowest point, but warns that a rebound in the housing sector could pose a threat to controlling inflation. She concludes by stating that a rate hike later in the month is already certain, regardless of the upcoming Consumer Price Index (CPI) report.