Stocks traded mixed on Thursday to steady following steep losses from a day earlier, driven by jitters over a potential shift in monetary policy that might remove some of the stimulus underpinning equity markets.
The S&P 500 turned slightly positive after dropping earlier, and logged its first rise in three sessions. The Nasdaq also shook off earlier losses, while the Dow remained in the red. Treasury yields retreated across the long end of the curve, and the benchmark 10-year yield sank back below 1.3%.
Shares of Robinhood (HOOD) sank after the trading platform delivered its first earnings report since going public, with the print pointing to a revenue slowdown in the current period due to seasonal weakness in third-quarter trading. Chip-maker Nvidia (NVDA) gained nearly 6% after revenue and current-quarter guidance topped estimates.
Equity markets have come under pressure on the back of the Federal Reserve’s July meeting…