DIA

S&P 500 Nears 6-Day Slide, Nasdaq 100 Faces Worst Week Since Late 2022: What's Driving Markets Friday?

U.S. Stocks are on track to end another week of declines. The Nasdaq 100 has dropped over 5% this week, while the S&P 500 faces its sixth consecutive day of losses. Semiconductor stocks are down 2.7%, and gold prices surged to $2,400 per ounce.

Notable ETF Outflow Detected - DIA, GS, MCD, TRV

Stocks Fall Back on Middle East Tensions and Chip Stock Weakness

US stock indexes this morning are mixed; S&P 500 falls to a 1-3/4 month low and Nasdaq 100 drops to a 2-1/2 month low. Negative corporate news and escalating geopolitical risks are undercutting stocks. Super Micro Computer is down more than -15% on earnings concerns. Israel launched retaliatory air strikes on Iran today. Demand concerns are weighing on chip stocks after Taiwan scaled back expectations for 2024 semiconductor market growth.

Quiver Morning Markets News

U.S. Equity markets stabilized after limited impact of Israeli strikes on Iran. Global equities rebounded after initial caution due to eased tensions in the Middle East. The S&P 500 is on track for its sixth straight week of losses. Gold, the dollar, and oil prices saw minimal changes as geopolitical fears eased.

Stocks Pressured by Middle East Tensions

Negative corporate news and escalating geopolitical risks are undercutting stocks. Netflix is down more than -5% after forecasting Q2 revenue below consensus. Israel launched retaliatory strikes on Iran today. The S&P 500 falls to a 1-3/4 month low and the Nasdaq 100 drops to a 2-1/2 month low. Paramount Global is up more than +9% after reports of a joint offer for Sony. June 10-year T-notes are moderately higher on safe-haven demand after Israel's air strikes. European stock markets are lower and interest rates are mixed.

Geopolitical Tensions Simmer as Iran Plays Down Reports of Israeli Attack

Iran downplayed what was reported as an Israeli attack on Iranian city of Isfahan. Iran has portrayed the incident as a minor incident, possibly caused by infiltrators. This approach seems to be an effort to maintain stability in the region. Israel has not commented on the incident, and the U.S. Has held back from direct comments.

AAII Sentiment Survey: Pessimism Jumps To Highest Level Since November

Pessimism among individual investors about the short-term outlook for stocks surged in the latest AAII Sentiment Survey. Bullish sentiment decreased 9.0 percentage points to 38.3%. Bearish sentiment was last higher on November 2, 2024. Pessimism is above its historical average for the first time in 24 weeks.

Stocks Give Up Early Gains and are Now in the Red