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US major indices close lower. Declines today erase the week's gains.

The major US stock indices are closing lower with the Nasdaq and the Russell 2000 leading the declines.Sharply higher yields and higher oil were the catalysts for the declines. Looking at the major indices:Dow industrial average fell -537.07 or -1.07% at 49530.94.. S&P index fell -92.76 points or -1.24% at 7408.49 NASDAQ index fell -410.08 points or -1.54% at 26225.14.The small-cap Russell 2000 tumbled -69.70 points or -2.44% at 2793.29. For the trading week, the declines today erased the gains from earlier in the week:Dow industrial average fell -0.17%S&P index rose 0.13%NASDAQ index fell -0.08%The Russell 2000 could not escape the higher yield headwind and declined -2.373%. Some of the large-cap losers for the week included:Raytheon: -17.17%
Shake Shack: -13.89%
Intel: -12.93%
Super Micro Computer: -12.27%
Teladoc: -12.14%
GameStop Corp: -11.08%
Whirlpool: -11.05%
SanDisk: -9.90%
Moderna: -9.73%
Alaska Air: -9.55%
Some of the notable winners for the week included:Nebius NV: +24.19%
Cisco: +22.41%
Palo Alto Networks: +16.84%
CrowdStrike Holdings: +12.61%
Occidental: +12.41%
Papa John’s: +11.53%
Figma: +10.94%
Exxon Mobil: +9.23%
Vertiv Holdings: +9.11%
Ford Motor: +8.93%
CF Industries: +8.89%
Fortinet: +7.66%
Stryker: +7.46%Mag 7 performance this week:NVIDIA: +4.70%
Apple: +2.36%
Microsoft: +1.64%
Meta Platforms: +0.76%
Alphabet A: -1.00%
Tesla: -1.43%
Amazon.com: -3.11%
NVIDIA led the gains this week, extending its AI-driven momentum, while Apple and Microsoft also posted solid advances. Nvidia will announce earnings next week .Amazon and Tesla were the weakest performers in the group, while Alphabet also finished modestly lower on the week.Top 10 winners in the Dow 30 this week:Cisco: +22.41%
Chevron: +5.22%
NVIDIA: +4.70%
UnitedHealth: +3.65%
Coca-Cola: +3.07%
J&J: +2.44%
Apple: +2.36%
Visa A: +2.18%
3M: +2.04%
Microsoft: +1.64%
Top 10 losers in the Dow 30 this week:Boeing: -7.11%
Home Depot: -6.28%
Sherwin-Williams: -5.20%
Nike: -5.12%
Walt Disney: -4.87%
IBM: -4.55%
Salesforce: -4.55%
P&G: -3.31%
Amazon.com: -3.11%
Verizon: -1.76%

This article was written by Greg Michalowski at investinglive.com.

🔗 Source

💡 DMK Insight

The drop in major US indices signals a critical shift in market sentiment driven by rising yields and oil prices. With the Dow down over 500 points and the S&P also in the red, traders need to reassess their positions. Higher yields typically indicate a tightening monetary policy, which can lead to reduced liquidity in the markets. This environment often favors defensive stocks over growth-oriented ones, especially in tech-heavy indices like the Nasdaq. The Russell 2000’s decline suggests that small caps are feeling the pressure, potentially indicating broader economic concerns. Traders should keep an eye on the 4,900 level for the Dow and 4,200 for the S&P as potential support zones. If these levels break, we could see further downside. On the flip side, rising oil prices might benefit energy stocks, creating a divergence in sector performance. Watch for any news on OPEC decisions or economic data releases that could impact oil prices, as these will likely influence market direction in the coming days.

📮 Takeaway

Monitor the Dow’s support at 4,900 and S&P at 4,200; a break below could signal further declines.

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