Wall Street Starts 2024 on a Dull Note as Apple Shares Dip and Treasury Yields Rise

On the first trading day of the year, Wall Street’s main indexes opened with a decline. This was primarily due to a broker downgrade of Apple shares and an increase in Treasury yields. These factors led investors to temper their expectations around interest rate cuts for the year.

Dow Jones Industrial Average

The Dow Jones Industrial Average opened with a decline of 123.32 points or 0.33 percent, reaching 37,566.22.

S&P 500

The S&P 500 started lower by 24.63 points or 0.52 percent, at 4,745.20.

Nasdaq Composite

The Nasdaq Composite dropped 137.65 points or 0.92 percent, reaching 14,873.70 at the opening bell.

This initial decline sets a cautious tone for the start of the year, as investors closely monitor the impact of the broker downgrade on Apple shares and the implications of rising Treasury yields on interest rate cuts.