Stocks move lower ahead of Wednesday’s close, sector indices all in the red
Yahoo Finance Live's Seana Smith examines stock market and sector losses ahead of today's closing bell, while also taking a quick look at Disney shares ahead of its earnings call.
SEANA SMITH: All right, well, we'll have much more on Disney in just a little bit. But first, I want to take a look at the markets here because you are looking at red on your screen in the final hour of trading. The Dow off 160 points, the NASDAQ off just about 1 and 1/2%.
You're looking at the S&P down nearly 1% today, some of the losses being attributed to some of the commentary that we've gotten from Fed officials this week, saying that the hiking doesn't seem to be over right now. More might be necessary in the future, and that's why we're seeing the NASDAQ, the leader here, to the downside, the underperformer so far in today's market.
Well, as equities dip, we're also seeing bonds pull back just a bit when you take a look at yields at least. Yields off just about two basis points when it comes to the 10-year at 3.66. Taking a look inside this action here, breaking it down by sector, all 11 of the S&P sectors are moving to the downside today. Communication services by far the worst performer. That sector off nearly 3%. Utilities, technology not too far behind here. But again, losses across the board.
Looking inside the Dow, we mentioned those earnings that we will be getting from Disney after the bell. Taking a look at that stock ahead of these results, off just about a half of a percent today in the trading day ahead of the results that we will get here this afternoon. Over the last three months, though, the stock has gotten a bit of a bounce, at least over the last month or so, up about 11% in the last three months, Dave.