US Stocks Close Flat Amid Shifting Treasury Yields and Tariff Concerns

Market Performance and Treasury Yields

• 📉 US stocks closed a choppy session with the Dow and S&P 500 ending flat, while the Nasdaq saw a slight increase of about a quarter of a percent.
• 📈 Recent concerns over the US deficit had previously driven Treasury yields higher, putting pressure on stock prices.
• 📊 Yields moved lower after the House of Representatives passed a tax and spending bill, which helped stocks recover from earlier losses.
• 💡 A technical strategist noted that interest rates were technically overbought and bond prices oversold in the short term, suggesting a potential near-term reversal.

Company-Specific Movements

• 🚀 Snowflake jumped over 13% after the cloud computing firm raised its fiscal 2026 product revenue forecast.
• 👢 Deckers Outdoor, maker of Ugg boots, initially climbed but then plunged over 15% in extended trading due to concerns about tariffs.
• 🛍️ Ross Stores shares fell sharply in extended trading after withdrawing its fiscal 2025 forecasts, citing potential impacts of tariffs on profitability.