While the S&P 500 index increased by 0.16 percent to 5,836.22 points, the Nasdaq index decreased by 0.38 percent to 19,088.10 points.
While rising bond interest rates in the USA pulled down technology stocks, a mixed trend was observed in the equity markets on the first trading day of the week.
According to the survey results announced by the US Federal Reserve (Fed) New York Branch, the short-term inflation expectation of consumers in the country remained unchanged at 3 percent last month.
Last week’s employment report, which was stronger than expected, supported the Fed’s cautious approach to interest rate cuts this year, and the possibility that the Bank might not make the first interest rate cut of the year before June came to the fore in the pricing in money markets.
Rising with concerns that inflationary pressures may continue in the United States, the 10-year treasury bond interest rate reached its highest level since late 2023 at 4.80 percent.
The dollar index also rose above 110 for the first time since November 2022, with expectations that there will be no interest rate cut soon.
Analysts stated that investors will follow the balance sheets and inflation data to be announced by some major banks in the USA this week.
While the sales wave in technology stocks continues, Nvidia’s shares decreased by 2 percent, Meta’s shares by 1.2 percent, Apple’s shares by 1 percent, Alphabet’s shares by 0.5 percent, Microsoft’s shares by 0.4 percent and Amazon’s shares by 0.4 percent. Its shares fell 0.2 percent.
Shares of US-based biotechnology company Moderna lost approximately 17 percent after it lowered its 2025 sales forecasts.
In the news in the country’s press, it was reported that US steel producers Cleveland Cliffs and Nucor are collaborating for a potential offer to US Steel, whose acquisition by the US administration has been blocked by Japanese Nippon Steel. Following the news in question, the shares of US Steel and Cleveland Cliffs rose 6 percent each and the shares of Nucor rose 4 percent.
On the other hand, in the lawsuit filed in California, it was claimed that the fire in the Eaton district of Los Angeles was caused by the equipment of the electrical company Edison International, and the company’s shares fell by 12 percent.