Thursday's big stock stories: What’s likely to move the market in the next trading session
The S&P 500 slid from its record on Wednesday as elevated yields weighed on stocks. Tune into CNBC Thursday morning for Skydance's David Ellison and Ynon Kreiz.
TL;DR
- Federal Reserve minutes indicate a high likelihood of another interest rate hike before the end of the year.
- Elevated U.S. Treasury yields (30-year, 10-year, and 2-year) are at levels not seen since 2002 or 4.77% respectively.
- New York Fed report suggests tariffs are increasing costs for consumers.
- Several retail stocks, including Best Buy, Dillard's, Macy's, Gap, Kohl's, Five Below, and Bath and Body Works, have seen significant declines from recent highs.
- PepsiCo stock is at lows not seen since April 2020; earnings report is due Thursday.
- Skydance, following its mega merger, has seen its stock decline this week and in October.
- Comcast stock is at lows not seen since October 2013, down significantly from its February high.