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S&P closes lower. Dow unchanged on the day

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The Nasdaq and the S&P closed lower for the third consecutive day. The Dow Jones closes unchanged – perhaps with a small gain of 1 point as final trades are processed.

Final figures show:

  • Dow industrial up around 2.67 points or 0.01% at 33852.52
  • The S&P index is down 6.32 points or -0.16% at 3957.63
  • The NASDAQ index is down -65.71 points -0.59% at 10983.79
  • Russell 2000 closes up 5.58 points or 0.31% at 1836.55.

US yields did not help the stock market today.

  • the two-year yield is 4.481%, +1.0 basis points
  • 10 years is that 3.757% up 5.5 basis points
  • 30-year is at 3.810% up 6.1 basis points

There is a report today that there will be an iPhone production shortfall for the iPhone 14 Pro and 14 pro max of between 15 and 20 million units following protests from factory workers. Apple stock price fell $3.11 or -2.16%. Apple was the biggest drag on the Dow today

After closing,

  • Intuit reported first-quarter earnings per share of $1.66 versus $1.22 expected. Revenue was $7.87 billion versus $7.43 billion expected. Intuit shares are trading at $381.54, up from the closing level of $379.71.
  • HP beat revenue to $7.87 billion from $7.42 billion. Earnings per share were $0.57 versus $0.56 estimated. HPE is trading at $15.91 after hours after closing at $15.46.
  • Crowdstrike’s revenue came in at $581 million versus an estimate of $574 million. Earnings per share were $0.40 versus $0.31 estimated. Crowdstrike shares are down more than $20 or 14.5% in after-hours trading despite the pace.

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