US stocks trending higher as S&P claws back from losses and leads market back into positive territory

319
SHARES
2.5k
VIEWS

You Might Also Like


– Advertisement –


The yield on the 10-year Treasury used to set the interest rate on several types of loans decreased from 1.53% to 1.52%

– Advertisement –

US Equity Futures On Wednesday, the S&P 500 was trading higher after rising, retracing some of its losses from the day before as traders scooped up discounted shares.

Stocks in this article

DJI No
$na
Grandfather)
SP500 S&P 500
$4359.46
+6.83 (+0.16%)
me: comp NASDAQ Composite Index
$14512.440877
-34.24 (-0.24%)

Major indices turned volatile on Wednesday during a volatile trading session as bond yields stabilized ahead of a resumption.

advertisement

The yield on the 10-year Treasury used to set interest rates on several types of loans fell from 1.53% to 1.52%.

Schumer says vote was settled to avoid government shutdown

– Advertisement –

The S&P 500 rose 0.2% to 4,359.46 on Wednesday, with most gaining 0.8%. The benchmark index gained marginally a day after recording its worst fall since May. The index is on pace for its first monthly loss since January.

The Dow Jones Industrial Average also lost momentum, but gained 0.3% to 34,390.72, while the tech-heavy Nasdaq Composite gave up 0.2% to 14,512.44.

The Russell 2000 Index of Small Companies also fell 0.2% to 2,225.31.

Bond yields stabilized over the past week after a spurt and pressure on the markets, especially technology stocks. The high return has forced investors to reevaluate whether prices are too high for the stock, as it makes them look expensive by comparison.

The broader market has lost ground in September, leaving the S&P 500 down 3.6% for the month with one day left.

Investors have spent much of the month reviewing a mixed batch of economic data showing the impact of COVID-19 and the highly contagious delta variant on consumer spending and recovery in the job market.

Investors are still watching the Federal Reserve closely to see how a slowdown in economic growth will affect the pace of its plan, eventually trimming bond purchases to help keep interest rates low.

Wall Street is also eyeing Washington, where Democrats and Republicans in Congress are wrestling to raise the country’s debt ceiling. If the limit, which is the limit on the amount the federal government can borrow, is not raised by October 18, the country will face “a financial crisis and an economic downturn,” Treasury Secretary Janet Yellen told Congress on Wednesday. Told.

Dem refuses to acknowledge party’s ‘fiscal insanity’, leaving Biden plan uncertain

Yellen’s remarks came a day after Senate Republicans stopped considering a bill that would have raised the debt limit.

The next few weeks will bring a fresh round of corporate earnings that will give investors a detailed look at how supply chain problems and high costs are affecting corporate finances.

A wide range of companies have been warning investors about the impact of inflation on costs and profits. Nike, Costco and FedEx are among those that cited material costs, shipping delays and labor problems as concerns.

Meanwhile, Asian stocks were mostly up on Thursday after a mixed trading session on Wall Street.

Tokyo’s Nikkei 225 index changed little after disappointing factory and retail sales figures were released. Shares in Hong Kong fell but most other regional benchmarks advanced.

Japanese investors chose former Foreign Minister Fumio Kishida to lead the ruling Liberal Democrats and thus become the next prime minister.

Get Granthshala Business on the go by clicking here

Shares of China Evergrande Group fell 4.9% as reports said the company, which is struggling to reduce its debt, was likely to miss another payment on a bond.

Shares of Evergrande jumped on Wednesday after it announced it was selling a stake in Shengjing Bank to help it pay off 10 billion yuan ($1.6 billion) of its debt to the northeastern China-based lender.

Hong Kong’s Hang Seng index fell 0.8% to 24,468.38, while the Nikkei 225 in Tokyo fell 0.1% to 29,512.20.

The Shanghai Composite Index rose 0.6% to 3,558.85, and Australia’s S&P/ASX 200 jumped 1.7% to 7,319.80. In Seoul, the Kospi climbed 0.5% to 3,075.76.

In other trade, US benchmark crude oil fell 5 cents to $74.78 a barrel in electronic trading on the New York Mercantile Exchange on Thursday. It rose 46 cents to $74.89 a barrel on Wednesday.

Brent crude oil fell 15 cents to $77.94 a barrel.

The US dollar fell from 111.96 yen to 111.90 Japanese yen. The euro rose from $1.1599 to $1.1608.


– Advertisement –

Related News

Next Post

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending News