Stock Market Update
08-Jul-26 13:30 ET
Dow slides more than 550 points as American Express, Boeing lead declines
Dow -554.40
at 52370.75,
Nasdaq +17.58
at 25857.27,
S&P -20.52
at 7483.33
[BRIEFING.COM] The Dow Jones Industrial Average (-1.05%) is down about 555 points this afternoon, leading losses among the major averages.
A look inside the DJIA shows that American Express (AXP 338.04, -11.54, -3.30%), Boeing (BA 225.12, -6.56, -2.83%), and Procter & Gamble (PG 149.06, -3.69, -2.42%) are underperforming.
Meanwhile, Cisco (CSCO 113.78, +1.99, +1.78%) is near the top of the standings.
The DJIA is now a clean -1.0% lower week-to-date.
Elsewhere, U.S. Treasuries hover above lows that were reached about two hours ago with the belly showing relative weakness. Thanks to today's selling, yields 5s and shorter tenors are on course to settle at fresh highs for the year while the 10-yr yield is still about ten basis points below its high from early May. The U.S. Treasury just reopened $39 bln in 10-yr notes to strong demand, making for the second solid auction in a row. Today's sale drew a high yield of 4.580%, which stopped through the when-issued yield by 0.6 basis points while the bid-to-cover ratio (2.59x vs 2.49x average) and indirect takedown (81.5% vs 69.4% average) were well above average. Tomorrow, the U.S. Treasury will reopen $22 bln in 30-yr bonds.
