Stock Market Today, April 10: Markets Flat as Investors Watch Iran Peace Negotiations

The S&P 500 (^GSPC 0.11%) slipped 0.11% to 6,816.89 today, though it still gained 3.56% this week. The Nasdaq Composite (^IXIC +0.35%) rose 0.35% to 22,902.89 and the Dow Jones Industrial Average (^DJI 0.56%) fell 0.56% to 47,916.57.

Market movers

Software weakness stood out as ServiceNow (NOW 7.58%) dropped sharply after UBS downgraded the stock and slashed its price target. Snowflake (SNOW 8.42%) tumbled over 8% on further artificial intelligence (AI) disruption concerns.

On the other side of the AI coin, CoreWeave (CRWV +10.87%) soared 11% after announcing a multi-year agreement with Anthropic. Qualcomm (QCOM +0.20%) edged higher, potentially because of a new augmented eyewear partnership.

Outside of tech, credit scoring company Fair Isaac (FICO 13.71%) plummeted by 14% amid potential regulatory scrutiny.

What this means for investors

The rally of recent days stalled slightly as inflation data and caution over Iran negotiations weighed on markets. Crucial U.S.-Iran peace talks will take place this weekend, and investors will be watching for signs that the peace will hold and the Strait of Hormuz will reopen, reducing pressure on oil prices.

March Consumer Price Index (CPI), released today, showed annual inflation rose 3.3%, with surging energy costs driving much of the price increases. Core CPI, which doesn’t include food and energy, came in slightly lower than expected. A prolonged spike in energy prices could contribute to sticky inflation, reducing the possibility of Federal Reserve rate cuts and potentially slowing growth.