U.S. stocks post 3-session climb as bond yields, oil retreat
U.S. stocks booked a 3-session win streak Tuesday as oil prices...
U.S. stocks booked a 3-session win streak Tuesday as oil prices and bond yields retreated. The Dow Jones Industrial Average DJIA climbed about 134 points, or 0.4%, ending near 33,739, according to preliminary FactSet data. That was the longest streak of straight wins for the blue-chip index in a month, and the best three days of gains since late August, according to Dow Jones Market Data. The S&P 500 indexSPX advanced 0.5% and the Nasdaq Composite IndexCOMP gained 0.6%. It was the third session in a row of gains for all three indexes. The brighter backdrop for the stock market came as oil prices CL00 and bond yields TMUBMUSD10Y retreated and after Raphael Bostic, head of the Atlanta Fed, said he didn’t think additional rate hikes were needed to bring inflation down to the central bank’s 2% annual target, but also that he still sees rates staying high for a “long time.”
If the Israel-Hamas conflict expands, the global economy could weaken as inflationary pressure piles up, Mohamed El-Erian says
The war that erupted this weekend between Israel and Hamas militants has so far led to relatively reserved...
The war that erupted this weekend between Israel and Hamas militants has so far led to relatively reserved market reactions, economist Mohamed El-Erian said on CNBC.
That's because investors are treating the conflict as contained, but any enlargement to the hostilities could force a rethink, he cautioned.
"If this expands and brings in other parties, then the outlook is for even a weaker global economy, even more inflationary pressures. And the markets are going to be finding it hard to deal with that," he said Monday. READ MORE
What Israel-Hamas war means for oil prices: ‘There is definitely going to be a fear trade put in place’
Oil traders face a changed world heading into the new week. With...
Oil traders face a changed world heading into the new week. With the sudden eruption of war in Israel, following surprise attacks by Hamas, fear and uncertainty in markets could drive up crude oil prices.
"The conflict poses a risk of higher oil prices, and risks to both inflation and the growth outlook," Karim Basta, chief economist at III Capital Management, told Reuters.
Historybook: United States Naval Academy opens (1845); American actress Helen Hayes...
Historybook: United States Naval Academy opens (1845); American actress Helen Hayes born (1900); Filmmaker Orson Welles dies (1985); Hijacking of the Achille Lauro cruise ship ends (1985); "Superman" actor Christopher Reeve dies (2004).
UAW workers at Mack Trucks went on strike yesterday after voting against a five-year contract agreement, adding 4,000 more workers to the picket lines at major US auto manufacturers.
Robert F. Kennedy Jr. announced he will run for president in 2024 as an Independent, a decision his own siblings denounced as “dangerous.”
Olympics organizers proposed adding cricket, flag football, baseball and softball, squash, and lacrosse to the 2028 Games in Los Angeles. The International Olympic Committee will vote on the proposal on Oct. 16.
Google announced new AI search capabilities that will help healthcare workers pull up your medical history faster.
The NHL season starts tonight with a triple header on ESPN. Fingers crossed this is finally your team’s year.
