Dow Up, Nasdaq Down as Markets Trade in Tight Range

Table showing the performance of major U.S. financial indexes on April 11, 2023


Key Takeaways

  • Major U.S. equities indexes ended mixed on April 11, 2023, after trading in a narrow range ahead of inflation data and earnings news.
  • The Dow ticked higher, the Nasdaq dipped slightly, and the S&P 500 ended Tuesday's session flat.
  • Shares of home builders moved higher, while the day saw dips in several of big tech stocks including Microsoft (MSFT) and Amazon (AMZN).

A late-day rally for U.S. equities stalled, leaving the Dow higher, the Nasdaq lower, and the S&P 500 flat. Trading was in a narrow range ahead of inflation data, minutes from the March Fed meeting, and the beginning of earnings season.

CarMax (KMX) shares jumped 9% after the used car retailer beat quarterly earnings estimates as it cut costs. Analysts' upgrades sent shares of Mohawk Industries (MHK) and Whirlpool (WHR) up. Shares of WW International (WW), known as WeightWatchers, soared as a Goldman Sachs analyst said that the stock could more than triple in price. 

Caterpillar (CAT) was the best-performing stock in the Dow, adding to the previous day's rally after shares sank the prior week. Shares of rival Deere & Company (DE) rose as well. It was a good day for investors in home builders, with shares of D.R. Horton (DHI), Lennar (LEN), Pultegroup (PHM), and Toll Brothers (TOL) rising.

It wasn't a great day for investors in some big tech stocks, as Microsoft (MSFT) and Amazon (AMZN) shares dipped 2%. Shares of Salesforce (CRM), Alphabet (GOOGL), and Cisco Systems (CSCO) lost 1%.

Gold Mining Bid

Newmont (NEM) shares fell as the gold miner boosted its bid to buy Australian rival Newcrest Mining. Results of a trial for Moderna's (MRNA) experimental flu shot were unsuccessful, and shares of the vaccine maker fell.

Oil futures jumped 2%. Gold prices advanced. The yield on the 10-year Treasury note climbed. The U.S. dollar lost ground against the euro and pound but advanced versus the yen. Most major cryptocurrencies traded higher, with Bitcoin (BTC/USD) adding 3%, pushing its price above $30,000.

Table showing the S&P 500 stocks with the biggest gains and losses on April 11, 2023


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