S&P 500, Nasdaq 100 Dip From Record Highs As Investors Take Chipmaker Profits; Energy Sector Rebounds, Yields Rise: What's Driving Markets Thursday?

Benzinga · Jun 21 01:41

After the Juneteenth holiday break, Wall Street reopened with a cautious tone, as the S&P 500 and Nasdaq 100 indices declined after hitting all-time highs around midday trading in New York. This decline was driven by profit-taking in chipmaker stocks and rising Treasury yields, which dampened risk sentiment.

TheiShares Semiconductor ETF(NASDAQ:SOXX) fell by 2.4%, marking its worst session since May 1, after reaching technically "overbought" levels earlier in the week.

Oil prices surged above $81 a barrel, aiming for the highest close since late April. This was spurred by larger-than-expected drops in U.S. inventories last week...

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S&P 500, Nasdaq 100 Dip From Record Highs As Investors Take Chipmaker Profits; Energy Sector Rebounds, Yields Rise: What's Driving Markets Thursday?

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