Stocks Take a Breather as Gold Glitters Less

Wednesday's Market Overview

• S&P 500: Fell by 0.6%
• Dow Jones Industrial Average: Dropped by 211 points (0.5%)
• Nasdaq Composite: Down by 1.2%

Major Movers

Decliners

• Netflix: Plummeted by 10.2% after reporting lower-than-expected profits.
• AT&T: Dropped by 2.3% due to shortfall in profit forecasts.
• Texas Instruments: Fell by 6.8% for the same reason.

Advancers

• Intuitive Surgical: Jumped by 13.9% after beating profit expectations.
• Boston Scientific: Climbed by 4.6% for the same reason.

Sector Highlights

Banking Sector

• Capital One Financial and Western Alliance Bancorp reported stronger-than-expected profits, providing relief after recent concerns about bad loans.

Beyond Meat

• Experienced volatility, initially surging before falling 8.3% by the end of the day. The stock has been highly volatile, reflecting its status as a meme stock.

Commodities

• Gold: Continued its downward trend, slipping by 0.8% to $4,074.70 per ounce, following a 5.3% drop the previous day. Despite this decline, gold is still up over 50% for the year.

International Markets

• London's FTSE 100: Rose by 0.9% after a positive inflation report.
• South Korea's Kospi: Jumped by 1.6%.
• Hong Kong: Declined by 0.9%.
• Paris: Saw a decline of 0.7%.

Bond Market

• 10-year Treasury Note Yield: Slipped slightly to 3.95% from 3.98% the previous day.