BEIJING (AP) — China’s monthly trade surplus soared to a record $97.9 billion in June as export progress picked up soon after anti-virus controls that shut down Shanghai were being lifted and shippers moved a backlog of cargo.
Exports rose 17.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} more than a calendar year ago to $331.2 billion, up from May’s 16.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} advancement, customs facts confirmed Wednesday. In a signal of Chinese economic weak spot, imports rose just 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $233.3 billion, pushing up the trade surplus by 90{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from a yr in the past.
Imports from Russia, largely oil and fuel, rose 56{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} around a year ago as Beijing took benefit of selling price cuts offered by the Kremlin right after Washington and Europe suspended most of their personal buys to punish Moscow for its invasion of Ukraine.
China’s trade already was frustrated by weak world wide need right before Shanghai, web page of the world’s busiest port, and other towns shut down starting in late March. Cargo managing is back again to normal, but economists warn the shock will be felt abroad for months.
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“Exports rebounded strongly as delivery bottlenecks eased,” reported Julian Evans-Pritchard of Capital Economics in a report. “But we feel this may perhaps be the very last hurrah for China’s pandemic export increase before shipments fall again on cooling need.”
Weak import demand demonstrates a slump in design, a big buyer for international iron ore and other raw materials, after the governing administration introduced a crackdown on personal debt that has chilled the huge genuine estate market.
Forecasters have minimize estimates for China’s economic expansion to as very low as 2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} this year, perfectly under the ruling Communist Party’s concentrate on of 5.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.
China’s economic system grew by a weak 4.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} around a calendar year before in the quarter ending in March. That was an improvement more than the 4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} level in the remaining three months of 2021.
Some think it shrank in the quarter ending in June ahead of beginning a gradual recovery. Surveys present that could be less than way as producing and services activity accelerates.
If that lasts, “the outlook for the second half of 2022 is for more robust imports,” Rajiv Biswas of S&P World Industry Intelligence explained in a report.
Exports to the United States surged 19.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} over a yr previously to $56 billion despite lingering tariff hikes in a trade war around Beijing’s technology ambitions. Imports of American items edged up 1.7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $14.6 billion.
China’s politically risky trade surplus with the United States widened by 26{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from a yr before to $41.4 billion. It was among irritants that prompted then-President Donald Trump to start the trade fight and hike import taxes.
Envoys from the two governments have talked by phone and movie backlink but have nevertheless to announce a date to resume face-to-deal with negotiations.
Exports to the 27-nation European Union rose 17.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from last June to $50.5 billion, when imports of European goods climbed 9.7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $25 billion. China’s trade surplus with Europe widened by 65{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $25.4 billion.
Imports from Russia rose 56{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} more than a year ago to $9.7 billion.
China’s expanding buys of Russian strength are annoying Washington and its allies but never violate sanctions on Moscow.
Beijing declared in advance of the attack that it had a “no limits” friendship with Moscow. It criticizes the sanctions but has prevented assisting Putin for concern of dropping obtain to Western markets and the global banking process.
The Biden administration very last month accused five Chinese companies of working with the Russian military services ahead of the Feb. 24 invasion. They extra them to a trade blacklist but officials did not say if they have been accused of providing items soon after the attack.
Past calendar year, China purchased 20{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of Russian crude exports, in accordance to the Global Strength Agency.
General Administration of Customs of China (in Chinese): www.customs.gov.cn
Copyright 2022 The Associated Push. All legal rights reserved. This materials may not be revealed, broadcast, rewritten or redistributed.
Stocks ended at records on Friday as investors digested disappointing earnings results from Apple (AAPL) and Amazon (AMZN) that came during an otherwise solid quarterly reporting season from many major companies.
The S&P 500 set record intraday and closing highs. The index posted monthly gain of more than 6.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in October, or its best single-month advance since November 2020. The consumer discretionary, energy and information technology sectors outperformed during the month.
The Nasdaq also eked out a fresh record level, even as a couple of heavily weighted technology giants saw shares dip.
Amazon shares dropped after the e-commerce juggernaut missed third-quarter expectations and forecasted a jump in expenses in the fourth quarter due to supply chain disruptions and rising costs for labor, materials and freight. These factors are expected to generate “several billion dollars of additional costs” to Amazon in the current quarter, the company said in its earnings statement.
Peer tech giant Apple also disappointed Wall Street in its fiscal first-quarter results, with key iPhone sales missing expectations even following the launch of its latest iPhone 13 handset series. Shares of Apple’s suppliers including Taiwan Semiconductor Manufacturing Co. (TSM), Qualcomm (QCOM) and Broadcom (AVGO) also fell immediately following the results.
For Wall Street, the results appeared to vindicate concerns that mounting supply chain disruptions, labor costs and materials shortages were impacting companies of all sizes heading into the holiday season, and were creating challenges for corporations to keep pace with rising demand.
And for Apple, Amazon and some other technology companies, investors have been additionally fearful that these key members of last year’s lucrative “stay-at-home” trade would be unable to maintain lofty growth rates following a pandemic-induced surge in their businesses. Amazon’s sales grew 15{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in the third quarter, slowing down markedly from 27{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} rate in the second quarter.
“I will agree, they are overvalued,” Rebecca Felton, Riverfront Investment Group senior market strategist, told Yahoo Finance Live about technology companies on Thursday. “But remember valuation is a condition, not a catalyst. And the catalyst I think for technology is going to be the consistency both on the top and bottom line.”
Meanwhile, investors continued to digest a mixed batch of economic data results, which included a weaker-than-expected print on third-quarter gross domestic product. The report, while comprehensive in scope, still offered an only backwards-looking view of state of the economy. Some pundits suggested economic activity had already begun to pick up, helping to underpin companies’ performance into the final months of the year and equity prices.
“I still think the best is yet to come,” Heritage Capital President Paul Schatz told Yahoo Finance on Thursday. “GDP for Q3 is going to be a trough. We’re going to have much stronger growth in Q4 and Q1 of next year, inflation is going to peak in the next six months, supply chain issues strongly moderate by early Q2 of next year. And this rising tide is going to lift most ships.”
“The economically sensitive trade, whatever you want to call it — reopening, reflation, inflation — that trade is very alive, very well and it’s not over,” he added.
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4:03 p.m. ET: Stocks end at records, S&P 500 posts best monthly advance since Nov. 2020
Here’s where markets closed out Friday’s session:
S&P 500 (^GSPC): +8.96 (+0.19{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,605.38
Dow (^DJI): +89.01 (+0.25{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,819.49
Nasdaq (^IXIC): +50.27 (+0.33{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,498.39
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2:39 p.m. ET: Microsoft overtakes Apple as most highly valued stock in the U.S. by market cap
Microsoft (MSFT) shares jumped on Friday, sending the stock’s market capitalization above that of Apple and making it the most valuable stock in the U.S.
The Redmond, Washington-based company was the best performer in the Dow on Friday, extending gains after reporting better-than-expected quarterly results earlier this week as its Microsoft Azure cloud unit surged in growth yet again. As of Friday afternoon, Microsoft’s market capitalization was hovering at $2.478 trillion, versus Apple’s $2.466 trillion, based on Yahoo Finance data.
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12:30 p.m. ET: S&P 500, Nasdaq turn higher to jump to record intraday highs
Stocks reversed course to push into positive territory in afternoon trading, led by gains in the communication services and health-care sectors in the S&P 500. The Dow reversed earlier losses of as many as 97 points to rise by more than 110 points, or 0.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.
The Nasdaq Composite and Nasdaq 100 also each eked out intraday records despite drops in heavily weighted technology stocks Amazon and Apple.
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9:31 a.m. ET: Stocks drop as tech shares lag
Here’s where markets were trading just after the opening bell:
S&P 500 (^GSPC): -23.57 (-0.51{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,572.85
Dow (^DJI): -15.81 (-0.04{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,714.67
Nasdaq (^IXIC): -111.67 (-0.72{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,339.63
Crude (CL=F): -$0.72 (-0.87{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $82.09 a barrel
Gold (GC=F): -$21.60 (-1.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,781.00 per ounce
10-year Treasury (^TNX): +2.9 bps to yield 1.598{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}
—
8:41 a.m. ET: Core PCE inflation rose 3.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in September over last year, matching August’s rate
The Federal Reserve’s preferred measure of inflation rose at the expected annual rate in September, holding at an elevated level on a historical basis but averting an expected acceleration.
Core personal consumption expenditures, which capture underlying price changes and exclude volatile food and energy prices, rose 3.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in September over last year, the Bureau of Economic Analysis said Friday. This was in-line with the expected rate of change, according to Bloomberg data, and matched the prior month’s gain.
On a month-over-month basis, the core PCE rose 0.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, slowing slightly from August’s 0.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} rise.
The broadest measure of personal consumption expenditures rose 0.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in September compared to August and 4.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in September over last year. Both of these metrics matched expectations.
—
8:33 a.m. ET: Personal income drops more than expected in September while spending meets estimates
Personal income posted a larger than expected monthly decline in September as stimulus from more government crisis-relief programs waned. Spending, however, rose in-line with estimates.
U.S. consumer income fell 1.0{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in September compared to August, the Bureau of Economic Analysis said on Friday. This was bigger than the 0.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} decline expected, according to Bloomberg consensus data. The Bureau of Economic Analysis noted that the end of enhanced federal unemployment benefits in early September was one major factor contributing to the drop.
Spending, meanwhile, rose at a 0.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} clip, matching expectations. This followed a 0.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} monthly rise in consumer spending in August.
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7:22 a.m. ET Friday: Stock futures fall, with Apple, Amazon weighing on Nasdaq
Here’s where markets were trading ahead of the opening bell:
S&P 500 futures (ES=F): -22.25 points (-0.49{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,565.25
Dow futures (YM=F): -42 points (-0.12{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 35,571.00
Nasdaq futures (NQ=F): -137.00 points (-0.87{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,627.75
Crude (CL=F): +$0.20 (+0.24{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $83.01 a barrel
Gold (GC=F): -$5.80 (-0.32{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,796.80 per ounce
10-year Treasury (^TNX): +3.4 bps to yield 1.603{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}
NEW YORK, NEW YORK – SEPTEMBER 30: Traders work on the floor of the New York Stock Exchange (NYSE) on September 30, 2021 in New York City. In afternoon trading the Dow was down over 250 points as investors continue to worry about inflation, wages and supply chain issues. (Photo by Spencer Platt/Getty Images)
Stocks were mostly higher on Thursday, with the S&P 500 rising to log an all-time high as a parade of strong earnings results and economic data helped buoy equity prices.
The S&P 500 gained 0.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to reach record intraday and closing highs, led by outperformance in the consumer discretionary and information technology sectors. A better-than-expected report on new weekly jobless claims also helped boost risk assets, with these improving to a fresh pandemic-era low. The Dow dipped but came off session lows. The 30-stock index had set a fresh record intraday high during the regular trading day on Wednesday, marking its first all-time high since mid-August.
Netflix and Tesla also logged record highs on Thursday, helping pull the tech-heavy Nasdaq up by 0.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.
Bitcoin prices (BTC-USD) pulled back from an all-time high of $66,000 reached earlier on Wednesday.
Estimates-topping earnings results from companies from Verizon (VZ) to Anthem (ANTM) and Abbott Laboratories (ABT) extended a streak of strong quarterly reports kicked off by the big banks last week. Tesla (TSLA) shares pushed higher after the electric-vehicle maker posted profits that exceeded estimates on the back of record quarterly deliveries, though revenues fell short.
With stocks trading near record levels, these kinds of earnings beats will need to be maintained in order to fuel further appreciation, some strategists said.
“Both the fiscal stimulus and monetary stimulus has been driving markets really since the ricochet off the bottom of COVID,” Michael Vogelzang, chief investment officer for Captrust, told Yahoo Finance Live on Wednesday. “What we’re looking at now is, the easy work is done. The Fed is beginning to taper shortly, we expect. We don’t expect interest rates to rise much from here. But what it means is that the market is reasonably valued. It’s not cheap by anyone’s estimation. And in order to progress here … we’re going to have to see stronger earnings growth, and continued strong earnings growth.”
“We’ve seen the peak cycle acceleration,” he added. “Now it’s the hard work – can we continue to create profit growth in our various companies? Can the market and the economies around the globe work through some of the logistical issues?”
So far this earnings season, many goods-producing companies have highlighted concerns over rising input prices and ongoing supply chain disruptions. Tesla noted in its earnings release that “a variety of challenges, including semiconductor shortages, congestion at ports and rolling blackouts, have been impacting our ability to keep factories running at full speed.” And Procter & Gamble (PG) earlier this week estimated it would see over $2 billion in expenses this fiscal year related to rising commodity and freight costs.
However, investors have so far at least momentarily looked through these concerns, and clutched to optimism that these pressures will prove temporary.
“What we have done, in large part, by having massive aggregate demand outpacing aggregate supply is likely not destroyed demand. We likely delayed demand,” Art Hogan, chief market strategist at B Riley-National, told Yahoo Finance Live on Wednesday. “And I think that elongates the economic cycle into ’22.”
“It means we’re going to have above-mean economic growth or GDP growth in ’22, higher than we’re estimating right now, likely, as we start seeing some of that supply response come online,” he added. “I certainly think that when we look at those companies that have to discuss things like margin degradation because of supply chain logistics and not having pricing power, you’re definitely going to have that environment where you have winners and losers.”
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4:04 p.m. ET: S&P 500 logs record as Netflix, Tesla set new all-time highs
Here’s where the major indexes closed out the session on Thursday:
S&P 500 (^GSPC): +13.59 (+0.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,549.78
Dow (^DJI): -6.26 (-0.02{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,603.08
Nasdaq (^IXIC): +94.02 (+0.62{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,215.70
—
2:12 p.m. ET: It’s still an ‘equity friendly’ investing environment for stocks: Strategist
Even as concerns over inflation and the global economic outlook remain at the forefront of investors’ attention, the overarching backdrop for equities remains strong due to two key factors, according to at least one strategist.
“We’re continuing to believe that we’re in what we’re calling an ‘equity friendly’ investing environment. We’re right in the middle of earnings … and two key drivers to the market are always earnings and interest rates,” Leo Grohowski, BNY Mellon chief investment officer, told Yahoo Finance Live. “Coming into the third quarter, we had a lot of [earnings] warnings. In fact we had the third-highest warnings of any quarter in the last 10 years. So I think expectations were measured. And so far, with about 20{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the [S&P 500] companies in, we’re running about 80{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} better than expected. So earnings we believe will continue to move forward at a nice clip.”
“And the key is interest rates. Our thought has been the 10-year doesn’t get higher than maybe 1.75{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, 2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} by the end of the year,” he added. “That supports market multiples at around the 23 level … [getting] us to a market forecast of 4,600 to 4,700 this year. So we’re continuing to be constructive on the equity market based on the earnings and interest rate market.”
—
10:00 a.m. ET: Existing homes sales bounced back in September, jumping far more than expected
Existing home sales rebounded in September after a dip in August, jumping by the most in a year as demand for housing remained robust.
Sales of previously owned homes were up 7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in September month-on-month, the National Association of Realtors (NAR) said in a new report Thursday. This was the biggest leap since September 2020, and brought sales to a seasonally adjusted annual rate of 6.29 million units. Consensus economists were looking for an only 3.7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} rise in September, according to Bloomberg data. In August, existing home sales had dropped by 2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in their first decline since May.
“Some improvement in supply during prior months helped nudge up sales in September,” Lawrence Yun, NAR’s chief economist, said in a press statement. “Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”
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9:51 a.m. ET: WeWork opens at $11.28 per share after hitting public markets via SPAC merger
Co-working company WeWork opened for trading at $11.28 per share after making its public debut via a merger with the special-purpose acquisition company BowX Acquisition Corp. The combined company is now trading under the ticker “WE” on the New York Stock Exchange. The SPAC had closed Wednesday at $10.38 per share.
The listing comes after a series of stumbles for WeWork, which resulting in the ousting of its co-founder Adam Neumann after a failed attempt to go public via a traditional initial public offering in 2019. The SPAC merger gives the company a valuation of about $9 billion, versus an as much as $47 billion valuation after a an investment by SoftBank in the private markets.
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9:32 a.m. ET: Stocks open slightly lower
Here’s where markets were trading just after the opening:
S&P 500 (^GSPC): -3.92 (-0.09{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,532.27
Dow (^DJI): -42.63 (-0.12{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,566.71
Nasdaq (^IXIC): -6.73 (-0.04{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,114.95
Crude (CL=F): -$0.45 (-0.54{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $82.97 a barrel
Gold (GC=F): -$1.90 (-0.11{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,783.00 per ounce
10-year Treasury (^TNX): +2.1 bps to yield 1.656{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}
—
8:33 a.m. ET: New weekly jobless claims set fresh pandemic-era low, dropping to 290,000
Initial unemployment claims improved to their lowest level since March 2020 last week, as the number of firings and other voluntary separations slowed amid widespread labor shortages.
Weekly unemployment claims totaled 290,000 during the week ended Oct. 16, the Labor Department’s data showed on Thursday. The prior week’s jobless claims were upwardly revised slightly to 296,000 from the 293,000 previously reported.
Continuing jobless claims for the week ended Oct. 9 also came in at their lowest level since March of last year. These unexpectedly broke below 2.5 million for the first time since the start of the pandemic, totaling 2.481 million.
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7:25 a.m. ET Thursday: Stock futures give back some gains after Dow’s record-setting session
Here’s where markets were trading Thursday morning:
S&P 500 futures (ES=F): -12 points (-0.27{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,516.00
Dow futures (YM=F): -104 points (-0.29{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 35,373.00
Nasdaq futures (NQ=F): -34.25 points (-0.22{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,343.25
Crude (CL=F): -$0.65 (-0.78{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $82.77 a barrel
Gold (GC=F): -$3.40 (-0.19{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,781.50 per ounce
10-year Treasury (^TNX): +2.6 bps to yield 1.661{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}
—
6:05 p.m. ET Wednesday: Stock futures edge lower
Here’s where markets were trading Wednesday evening:
S&P 500 futures (ES=F): -2.25 points (-0.05{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,525.75
Dow futures (YM=F): -30 points (-0.08{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 35,447.00
Nasdaq futures (NQ=F): -18 points (-0.12{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,359.5
NEW YORK, NEW YORK – SEPTEMBER 30: Traders work on the floor of the New York Stock Exchange (NYSE) on September 30, 2021 in New York City. In afternoon trading the Dow was down over 250 points as investors continue to worry about inflation, wages and supply chain issues. (Photo by Spencer Platt/Getty Images)
