Thursday's big stock stories: What’s likely to move the market in the next trading session
The major averages sold off on Wednesday as a sharp surge in Treasury yields heightened traders' fears of more interest rate hikes from the Federal Reserve.
TL;DR
- Cybersecurity stocks such as CrowdStrike, Fortinet, SentinelOne, and Cloudflare are experiencing significant gains.
- The surge in cybersecurity stocks is linked to a reported breach of an Australian government website by OpenAI.
- Chinese ETFs are down sharply from recent highs, with the KraneShares CSI China Internet ETF down 42%.
- Treasury yields, including the 10-year note, have reached 19-year highs, indicating market concern over interest rate hikes.
- Darden Restaurants and Costco are set to report earnings, with both stocks showing recent declines.
- Meta Platforms stock has risen from its March low, with CEO Mark Zuckerberg's comments awaited.