- July 8, 2021
- Posted by: Stratford Team
- Category: Business
Hodges Funds CEO and portfolio manager Craig Hodges shares his market picks.
U.S. stock markets were under pressure Thursday as the spreading of COVID-19 variants sparked concerns over global growth.
The Dow Jones Industrial Average fell 256 points, or 0.74%, while the S&P 500 and the Nasdaq Composite declined 0.85% and 0.72%, respectively. The selling tipped both the S&P 500 and the Nasdaq Composite off of Wednesday’s all-time highs.
Ticker Security Last Change Change %I:DJI DOW JONES AVERAGES 34421.93 -259.86 -0.75%SP500 S&P 500 4320.82 -37.31 -0.86%I:COMP NASDAQ COMPOSITE INDEX 14559.784884 -105.28 -0.72%
The sharp selloff in the stock market steered investors into the bond market, pushing the 10-year yield down by 3.4 basis points to 1.287%, the lowest since Feb. 18.
FORGET INFLATION – DEFLATION COULD REAR ITS UGLY HEAD SOON
In stocks, financials, which benefit from a steeper yield curve, were in the crosshairs.
Carnival Corp. and Delta…