5 things to know before the stock market opens Thursday

Stock Market Developments on Thursday

Major Indexes Decline
All three major stock indexes closed lower on Wednesday, influenced by rising Treasury yields which overshadowed Nvidia’s positive performance.

Salesforce's Earnings Disappointment
Salesforce shares plummeted after reporting lower-than-expected revenue for the first quarter, marking its first revenue miss since 2006.

ConocoPhillips Acquires Marathon Oil
In a significant move within the oil sector, ConocoPhillips has agreed to purchase Marathon Oil, enhancing its position in major shale fields and increasing its market cap.

Abercrombie & Fitch's Record Quarter
Abercrombie & Fitch reported its strongest first quarter ever, with a significant increase in sales and profits, leading to a substantial rise in its stock.

Nelson Peltz Exits Disney
Activist investor Nelson Peltz has sold all his Disney stock following a lost proxy battle, exiting at about $120 per share and making approximately $1 billion.

Rising Treasury yields had a significant negative impact on the stock market on Wednesday, as evidenced by the decline in major stock indexes. The Dow Jones Industrial Average dropped by 411.32 points or 1.06%, closing at 38,441.54. Similarly, the S&P 500 experienced a 0.74% decrease, ending the session at 5,266.95, while the Nasdaq Composite fell by 0.58% to 16,920.58. Despite Nvidia's recovery, which saw the stock end the day 0.8% higher, the broader market could not overcome the downward pressure exerted by the increasing Treasury yields. This scenario highlights the sensitivity of stock markets to changes in interest rates, particularly how rising yields can dampen investor enthusiasm across various sectors.