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US stocks were mixed amid continued tech selling, while front-end yields declined after NFP miss – Newsquawk Daily Asia-Pac Market Open

News Snapshot:

US stocks were mixed, with the Dow the only major index to finish in positive territory, while the Nasdaq closed lower and the S&P 500 was flat. Although the softer-than-expected June nonfarm payrolls report saw traders pare Fed rate hike expectations, helping support broader risk sentiment, renewed weakness in large-cap technology stocks outweighed the macro tailwind for NDX. Market breadth was notably more constructive than the headline indices suggested. The majority of sectors finished higher, led by the traditional defensive sectors of Health Care, Consumer Staples and Utilities, while the heavyweight Technology, Consumer Discretionary and Communication Services sectors were the…

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