T&G Market Recap: Dow Powers Up as Tech Tanks, While Rising Yields Wreak Havoc 📈
Big Tech stumbles, oil soars, and everyone’s on edge for CPI. Buckle up—it’s about to get spicy. 🔥📈
Markets came out swinging Monday, firing off a half-dozen plot twists before lunchtime. The Dow locked in a decent gain, while the S&P 500 eked out a fractional win, and the Nasdaq slid deeper into the red. If you wanted a smooth, boring start to the week, well, tough luck. Here’s the breakdown:
The Scoreboard: Winners & Losers
Dow Jones (↗ +0.8%): The old-school stalwart soared 350+ points, led by cyclical and energy names. No meltdown here!
S&P 500 (↗ +0.2%): Crawled out of early losses, thanks to a last-minute rescue in certain consumer and energy shares.
Nasdaq (↘ -0.4%): Dragged down by Big Tech, which is spooked by rising yields and fresh concerns about interest rate cuts.
Why the confusion? A robust December jobs report keeps haunting investors. Rate-cut fever from just a few weeks ago? Fading. Ten-year yields soared to a 14-month high near 4.8%. The US dollar soared to a two-year high, making the rate environment look downright cruel for tech. 😵
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