The major averages reversed and closed lower as the US government shutdown continues.  The Dow Jones Industrial Average declined 243 points, or 0.5%. The S&P 500 fell 18 points or 0.28% while the Nasdaq fell 18 points or 0.08%.

Both the S&P 500 and the Nasdaq are coming off a record-setting session on Wednesday.  The Nasdaq had been up eight of the last nine trading sessions closing above the 23,000 mark for the first time ever.

Tech held in there the best today with large caps like Oracle, Nvidia, Meta, Netflix and Amazon higher. Apple, Microsoft and Google were lower today. Chip stocks cam under some profit-taking today.

Earnings will start to roll in going forward. Delta was a diamond up 7% after beating earnings by 18 cents as sales rose 6.4% year over year to $16.67 billion thanks to premium and high-end travels spending extra for good seats. Ferrari was a dog today after lackluster guidance overshadowed the release of their first fully electric car.

Interest rates remain quiet with limited economic data due in part to the government shutdown. The yield on the 10-year Treasury note was up a basis point to 4.14%. The 2-year Treasury yield was up a basis point as well to 3.59%. The 30-year Treasury yield rose a basis point to 4.72%.

In the commodity space, oil was down 1.7% on a ceasefire in the Gaza. Gold was down nearly 2% while crypto currencies fell over 2%.

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