Stock Market Today, Aug. 17: Markets Inch Lower and Treasury Yields Rise as Investors Wait for Retail Earnings
The S&P 500 (SNPINDEX:^GSPC) fell 0.50% to 7,747, the Nasdaq Composite (NASDAQINDEX:^IXIC) slipped 0.31% to 26,647, and the Dow Jones Industrial Average (DJINDICES:^DJI) lost 0.51% to 53,460 as indices drifted near record levels ahead of pivotal retail corporate earnings reports.
On August 17, stock market indices experienced a slight decline, with the S&P 500 falling 0.50% to 7,747, the Nasdaq Composite slipping 0.31% to 26,647, and the Dow Jones Industrial Average losing 0.51% to 53,460. Investors were awaiting key retail corporate earnings reports, which led to a rise in Treasury yields, as the 10-Year yield climbed to 4.68%.
Gold prices also increased by 0.80% to $4,472.90, while the Communication Services sector was the biggest loser, and Industrials led the sector gainers. Notable stock performances included an 4.5% rebound for Space Exploration Technologies, while Carvana saw the steepest decline at 7.3% among S&P 500 companies.
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