Good morning. Stocks were mixed on Thursday, and tech stocks declined over worries of AI financing in the face of higher borrowing costs.
The Tech (XLK) sector slumped as chip stocks declined, led by chipmakers Nvidia (NVDA) and AMD (AMD). Memory giants Micron (MU) and SK Hynix (SKHY) also declined, along with flash memory maker Sandisk (SNDK).
Worries about debt-heavy balance sheets amid rising corporate bond yields sent shares of neocloud provider CoreWeave (CRWV) lower.
Meanwhile, investors flocked to bonds as the 10-year Treasury (^TNX) yield dropped 14 basis points to 5.05%.
Here’s a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
Defensive sectors rose on Thursday, with Healthcare (XLV) and Consumer Staples (XLP) gaining,
Brent crude oil futures (BZ=F) traded below $105 per barrel, while WTI (CL=F) hovered near $94 per barrel.
Here are some other notable stocks that Yahoo Finance readers are viewing this morning: TSM (TSM), Charles Schwab (SCHW), and Rocket Lab (RCLB).
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