{"id":2138311,"date":"2024-01-02T11:51:02","date_gmt":"2024-01-02T16:51:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-st-kicks-off-2024-on-a-dull-note-as-yields-rise-apple-dips\/"},"modified":"2024-01-02T11:57:49","modified_gmt":"2024-01-02T16:57:49","slug":"wall-st-kicks-off-2024-on-a-dull-note-as-yields-rise-apple-dips","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-st-kicks-off-2024-on-a-dull-note-as-yields-rise-apple-dips\/","title":{"rendered":"Wall Street starts 2024 on a lackluster note with rising yields and Apple&#8217;s decline"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwall-st-kicks-off-2024-on-a-dull-note-as-yields-rise-apple-dips%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2138311&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p><strong>January 2, 2024 \u2013\u2064 7:26 AM PST<\/strong><\/p>\n<p>(Reuters) \u2013 U.S. stocks took a hit on the\u2063 first trading day of 2024 as \u2063Apple shares dipped \u200cfollowing a broker downgrade, while Treasury yields rose\u2062 as investors adjusted their expectations for interest-rate cuts this year.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p><strong>Wall Street\u2019s three major \u200bindexes<\/strong> achieved monthly, quarterly, and annual gains\u2062 on Friday as traders factored in the likelihood of \u2064rate cuts from the Federal \u2063Reserve\u2063 this year. The S&#038;P 500 finished last week just 1% \u2063below its record closing high reached on Jan. 3, 2022.<\/p>\n<p>However, equities faced pressure on\u200d Tuesday as the\u2062 yield on 10-year U.S.\u200b Treasury notes, the benchmark for global borrowing costs, briefly \u200csurpassed 4.0000% to reach \u2063a two-week high before \u200ceasing to 3.9388%.<\/p>\n<p>Megacap\u200b stocks, including \u2062Nvidia (NVDA.O) and Microsoft (MSFT.O), experienced declines of 3.5% and 1.7%, respectively.\u2064 Apple (AAPL.O) fell 3.3% after Barclays \u200bdowngraded the tech giant to \u201cunderweight,\u201d citing weaker iPhone demand.<\/p>\n<p>\u201cIt\u2019s day one after a tremendous run. When \u2063you\u2063 think about what happened from the October lows\u2064 to now, I\u2064 would expect\u2063 the first three months of this year to\u2063 be tough\u200b and this week to\u200d be somewhat exemplary \u2062of that, with people taking \u200dprofits, realigning portfolios,\u201d\u200c said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.<\/p>\n<p>\u201cIt\u2019s going to be about interest rates in these first few days of the year.\u201d<\/p>\n<p>The CBOE \u2062Volatility index (.VIX), \u2064also known as Wall\u200d Street\u2019s fear gauge, reached a near\u200b two-week high at\u200d 14.23 points.<\/p>\n<p>At 9:45 a.m. ET,\u200b the Dow Jones Industrial Average (.DJI) was \u2062down 70.22 \u200bpoints, or 0.19%, at 37,619.32, the S&#038;P 500 \u2063(.SPX) was down 34.90 points, or 0.73%, \u200cat 4,734.93, and the Nasdaq Composite\u200b (.IXIC) was down 224.07 points, or 1.49%, at 14,787.29.<\/p>\n<p><strong>Health stocks \u200c(.SPXHC) outperformed the\u2064 10 other S&#038;P 500 sectors, \u200drising 1%, while information technology (.SPLRCT) led\u2063 declines\u2064 with a 2.5% drop.<\/strong><\/p>\n<p>After optimism \u200bsurrounding artificial intelligence and stabilizing interest rates fueled U.S. stocks in 2023, further market gains will be tested by \u200bupcoming inflation data and the looming presidential elections.<\/p>\n<p>The week&#8217;s \u200dagenda includes weekly jobless \u200cclaims, monthly private and non-farm payrolls data, \u200das well as services sector data. On Tuesday, S&#038;P Global&#8217;s\u2064 final reading of U.S. manufacturing activity for December came in at 47.9, compared with\u200d earlier \u2062estimates of 48.2.<\/p>\n<p>Market participants are also eagerly awaiting the\u200d release of the Fed&#8217;s December\u200b policy meeting\u200c minutes on\u200b Wednesday to gain insight into the potential timing of rate cuts.<\/p>\n<p>While the Fed is widely \u200cexpected to hold\u200d rates steady at its January meeting, traders anticipate a nearly 70% chance of a 25-basis point cut in March, according to the CME\u200b Group&#8217;s FedWatch \u2063tool.<\/p>\n<p>Companies linked to cryptocurrencies saw gains as bitcoin surged above $45,000 for\u200d the first time since April 2022, driven by optimism surrounding the possible approval of exchange-traded\u200d spot bitcoin funds.<\/p>\n<p>Marathon Digital Holdings (MARA.O) \u200dand \u200dMicroStrategy\u2064 (MSTR.O) experienced jumps of 8.9% and\u200d 13%, respectively.<\/p>\n<p>Boeing (BA.N) \u2063declined by 1.4% after Goldman Sachs removed the aerospace company from its &#8220;conviction list.&#8221;<\/p>\n<p>Declining issues outnumbered advancers with a ratio of 1.81-to-1 on\u2064 the NYSE and 1.61-to-1 on\u200d the Nasdaq.<\/p>\n<p>The S&#038;P index recorded 10 new 52-week highs and no new lows, while the Nasdaq recorded 27 new highs and 15 new lows.<\/p>\n<p><sup>Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru; Editing by Devika Syamnath<\/sup><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t<strong>Share this post!<\/strong>\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>It&#8217;s officially\u200b the 2024 \u2062election year<\/strong>, and\u2063 states across the country are <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/2-nyc-men-accused-of-staging-at-least-8-fake-armed-robberies-to-gain-immigration-benefits\/\" title=\"2 NYC men allegedly faked 8 armed robberies for immigration benefits\">enacting controversial laws<\/a>.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Ringing in the new year<\/strong> is \u200da tradition celebrated across the globe.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>From showcasing the Biden Administration&#8217;s failures<\/strong> \u2063 to the\u200c investigation into the Biden family, House Oversight Committee Republicans made significant\u200d progress last year.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Israeli hostage Mia Schem<\/strong> gives her first interview since being released by her captors in\u2063 Gaza.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>December 22, 2023 \u2063\u2013 6:05\u2062 AM PST HONG \u200bKONG (Reuters)<\/strong> \u2013 Chinese regulators announced on Friday a wide\u200d range \u2064of rules aimed\u2026\u2063 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>One of the main bottlenecks for Tesla<\/strong> \u2063 is the speed \u2063at which it can produce \u200cthe 4680 batteries\u200b used in the \u200bCybertruck with its new <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/navy-vet-defends-beheading-satanic-statue\/\" title=\"Navy vet supports beheading Satanic statue\">dry-coating technology<\/a>.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>A group of \u200c11 nonfiction \u2063authors<\/strong> have joined \u200ca lawsuit in Manhattan federal court\u200b that \u2064accuses OpenAI and Microsoft of misusing\u2063 the books \u2063they have written to train\u2062 their models.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>San Francisco police Sergeant David Radford<\/strong> contacted Tesla about data on\u200b an alleged stalker&#8217;s remote access to a vehicle.<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> How did the broker downgrade\u2062 of Apple impact the stock market<\/h2>\n<p><span>  \u2063 U.S. Stocks Dip as Apple Shares Decline on Broker \u2062Downgrade<\/p>\n<p>January 2, 2024 \u2013 7:26 AM PST<\/p>\n<p>(Reuters)\u200d \u2013 U.S. stocks faced a\u200c decline on the\u200c first trading day\u2064 of 2024 as Apple shares dipped following a broker downgrade, while Treasury yields rose as investors \u200dadjusted their\u200d expectations for interest-rate\u200d cuts this year.<\/p>\n<p>Wall Street&#8217;s three major indexes achieved \u200cmonthly, quarterly, and annual gains on Friday as traders factored in the likelihood of rate cuts from the Federal Reserve this year. The S&#038;P 500\u2064 finished last week just 1% below its record closing high reached on January 3, 2022.<\/p>\n<p>However, equities faced pressure on Tuesday as the yield on 10-year U.S. Treasury notes, the benchmark for global borrowing costs, briefly surpassed 4.0000% to reach a two-week high before easing to 3.9388%.<\/p>\n<p>Megacap stocks, including Nvidia and Microsoft, experienced declines of 3.5% and 1.7%, respectively. Apple fell 3.3% after Barclays downgraded the tech giant \u200cto &#8220;underweight,&#8221; citing weaker iPhone demand.<\/p>\n<p>&#8220;It&#8217;s day one after a tremendous run. \u2064When \u200cyou think about what happened from the October lows to now,\u200d I would expect the first three months of this year to be tough and this week to be \u2063somewhat exemplary of that, with people taking profits, realigning portfolios,&#8221; said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.<\/p>\n<p>&#8220;It&#8217;s going to \u200cbe about interest rates in\u200c these first few days of the year.&#8221;<\/p>\n<p>The CBOE Volatility index, also known as Wall Street&#8217;s fear gauge, reached a near\u2063 two-week \u200bhigh at 14.23 points.<\/p>\n<p>At 9:45 a.m. ET, the Dow \u2062Jones Industrial Average was down 70.22 points, \u200dor 0.19%, at 37,619.32, the S&#038;P \u200c500 was down 34.90 points, \u200dor 0.73%, at 4,734.93, and the Nasdaq Composite was \u2063down \u2064224.07 points, or 1.49%, at \u200d14,787.29.<\/p>\n<p>Health stocks outperformed the 10 other S&#038;P 500 sectors, rising 1%, while information technology led declines with\u2064 a\u200d 2.5% drop.<\/p>\n<p>After optimism surrounding \u2064artificial intelligence and stabilizing interest\u200d rates fueled U.S. stocks in 2023, further \u200cmarket gains will be tested by upcoming inflation data\u2064 and the looming presidential elections.<\/p>\n<p>The week&#8217;s agenda includes weekly jobless claims, monthly private\u2062 and non-farm payrolls data, as well as services sector data. On Tuesday, \u2063S&#038;P Global&#8217;s final reading \u2062of U.S. manufacturing activity for December came in at \u206247.9, compared with earlier \u200bestimates of 48.2.<\/p>\n<p>Market participants are also eagerly awaiting the release of \u2063the \u2064Fed&#8217;s December policy meeting minutes \u200don Wednesday to gain insight\u2064 into\u2062 the potential timing \u200cof rate cuts.<\/p>\n<p>While the Fed is widely expected to hold rates steady at its January meeting, traders \u200danticipate a nearly 70% chance \u2064of a 25-basis point cut in March, according to the CME Group&#8217;s FedWatch tool.<\/p>\n<p>Companies linked to cryptocurrencies saw gains as bitcoin surged above $45,000 for the first time since April 2022, driven by optimism surrounding the possible approval of exchange-traded spot bitcoin funds.<\/p>\n<p>Marathon Digital Holdings and MicroStrategy experienced jumps of 8.9% and 13%, respectively.<\/p>\n<p>Boeing declined by 1.4% after \u200dGoldman Sachs removed the aerospace company from its \u200d&#8221;conviction list.&#8221;<\/p>\n<p>Declining issues outnumbered advancers with a ratio of\u2063 1.81-to-1 on the NYSE and\u2062 1.61-to-1\u2063 on the Nasdaq.<\/p>\n<p>The S&#038;P index recorded 10 new 52-week highs and no new lows, while the Nasdaq recorded 27 new highs and 15 new lows.<\/p>\n<p>Reporting by Sruthi Shankar and Shristi Achar<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On January 2, 2024, U.S. stocks declined as Apple shares dropped due to a broker downgrade. Additionally, Treasury yields rose after investors adjusted their expectations regarding interest-rate cuts for the year. Despite this, Wall Street&#8217;s major indexes achieved monthly, quarterly, and annual gains on Friday<\/p>\n","protected":false},"author":1911,"featured_media":2138312,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2138311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2138311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2138311"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2138311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2138312"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2138311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2138311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2138311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}