Stock market today: Live updates

Traders work on the floor of the New York Stock Exchange.

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S&P 500 futures slid Thursday as investors readied for the final trading days of what’s shaping up to be a weak month and quarter.

Futures tied to the broader index were down more than 0.1%. The Dow Jones Industrial Average futures were little changed, while Nasdaq 100 futures were down over 0.3%.

The yield on the benchmark U.S. 10-year Treasury hit a fresh 15-year high this morning, climbing above levels last seen in 2007. The 2-year Treasury yield was little changed.

Micron Technology slid more than 4% after offering weak earnings guidance for the current quarter. Peloton Interactive jumped more than 13% following news that the company was entering a five-year partnership to make content for Lululemon.

The moves follow a mixed session on Wall Street. The S&P 500 and Nasdaq Composite added 0.02% and 0.2%, respectively, while the Dow finished 0.2% lower. The 10-year U.S. Treasury yield hit a level not seen in more than 15 years in the session, pressuring equities. The benchmark rate rose again Thursday, trading around 4.64%.

Friday marks the end of what has been a tough trading month and quarter. As of Wednesday’s close, the Dow is poised to end 3.4% down on the month and 2.5% lower in the quarter. The S&P 500 is slated to finish the month down 5.2% and the quarter off by about 4%. The Nasdaq is on pace to finish the month and quarter losing 6.7% and 5%, respectively.

Investors will watch for economic data on jobless claims, home sales and the GDP on Thursday, before turning attention to the latest personal consumption expenditures price index reading due Friday. The PCE reading is the Federal Reserve’s preferred inflation metric.

The “equity market needs reprieve on the rates front to move higher, and the Fed needs to downshift from their hawkish position for that to happen,” said Ross Mayfield, investment strategy analyst at Baird. “PCE and other inflation data will be critical.”

Wall Street is also keeping an eye on Washington, as lawmaker negotiations on a U.S. spending bill continue. Without an agreement by this weekend, the government would shut down.

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