Daily Report 07.02.2023
Objavljeno: 07. 02. 2023

Stocks close lower Monday as higher rates rattle investors 
U.S. stocks fell Monday, led downward by the tech-heavy Nasdaq Composite, as investors grew increasingly cautious of rising bond yields. The Dow Jones Industrial Average lost 34.99 points, or 0.1%, to end at 33,891.02. The 30-stock index made up some ground after losing more than 240 points earlier in the session. The S&P 500 slid 0.61% to close at 4,111.08. The Nasdaq Composite posted the biggest loss of the three, sliding 1% to end at 11,887.45. 
Apple shed 1.8%, pressuring the Dow as concerns over higher rates weighed on some tech stocks. Retail stocks Target and Nike also ended the session down, while defensives such as Merck and Coca-Cola advanced. 
Tyson Foods fell 4.6% on the back of a weaker-than-expected earnings report. The Children’s Place a kids’ apparel retailer, lost 4% after it pulled back its outlook for its fourth quarter. 
The tech company saw its shares fall 3.7% after it announced its plans to lay off 5% of its workforce. Dell co-chief operating officer Jeff Clarke said the staff cuts are an effort to “stay ahead of downturn impacts.” The company has been struggling with the global slowdown in demand for PCs and laptops during the past year. 

The pan-European Stoxx 600 index provisionally closed 0.8% lower, with all sectors bar healthcare and utilities trading in the red. Retail led losses, down 2.1%. 
Source: CNBC, Investing.com