- Twitter slips on Elon Musk's $43 billion buyout offer
- Big banks beat expectations, report profit drops
- All three major U.S. stock indexes post weekly declines
- Indexes down: Dow 0.33%, S&P 1.21%, Nasdaq 2.14%
Wall Street closed slightly on Thursday at the end of the holiday-translated week as bond yields resume uphill and investors compete for mixed wages and economic data.
All three US stock indexes sent a weekly loss ahead of a Good Friday holiday.
"It's a combination of ongoing concern," said Ryan Detrick, a market strategist at LPL Financial in Charlotte, North Carolina. "It's time to lead a mixed fund so far, and that, coupled with a sharp fall in inflation and the Fed hawkish led to a sell-off before the holiday weekend."
The 10-year Treasury Rising reflects impressive growth stocks, pulling the S&P 500 and Nasdaq deeper into the negative zone, while the Dow posted very little losses.
"Higher yields pressurize high growth stocks as their current value ... it takes a hit when the yields go up," Detrick said.
Quartet of major U.S. banks changed the reporting season for the first quarter and made it more efficient, with Goldman Sachs Group Inc (GS.N), Citigroup Inc (C.N), Morgan Stanley (MS.N), and Wells Fargo & Co (WFC.N) all shipping results.
