U.S. stocks struggle toward modest gains at opening bell after 2023’s worst day
U.S. stocks opened marginally higher on Wednesday after suffering their worst drop of 2023 a day earlier...
U.S. stocks opened marginally higher on Wednesday after suffering their worst drop of 2023 a day earlier as investors awaited minutes from the latest meeting of the Federal Reserve. The S&P 500 SPX, +0.23% gained 3.5 points, or 0.1%, to 4,000, the Dow Jones Industrial Average DJIA, +0.16% increased by 39 points, or 0.1%, to 33,172, the Nasdaq Composite COMP, +0.48% added 36 points, or 0.3%, to 11,530. The Dow dropped roughly 700 points a day earlier as U.S. stocks tumbled in the face of rising Treasury yields, a stronger U.S. dollar and downbeat forward guidance from Home Depot Inc. HD, +0.96% and Walmart Inc. WMT, -0.54%.
Benchmark U.S. crude oilfor March delivery fell 18 cents to $76.16 a barrel Tuesday. Brent crude for April delivery fell $1.02 to $83.05 a barrel.
Wholesale gasoline for March delivery rose 1 cent to $2.42 a gallon. March heating oilrose 8 cents to $2.78 a gallon. March natural gasfell 20 cents to $2.07 per 1,000 cubic feet.
Dow ends down nearly 700 points as stocks suffer worst drop since mid-December
U.S. stocks booked their worst day in more than two months on Tuesday as investors emerged from...
U.S. stocks booked their worst day in more than two months on Tuesday as investors emerged from the long holiday weekend in a gloomy mood. The Dow Jones Industrial Average DJIA tumbled about 697 points, or 2.1%, ending near 33,129, while the S&P 500 index SPX fell 2% and the Nasdaq Composite Index COMP closed down 2.5%, according to preliminary FactSet data. The drop for all three equity indexes was the worst on a daily percentage basis since Dec. 15, according to Dow Jones Market Data. It also cut the S&P 500’s 2023 gain by roughly half, to about 4.1%. The selloff in risk assets came after several Federal Reserve speakers recently stressed the need to keep bringing stubbornly high inflation levels down toward the central bank’s 2% annual target. Treasury yields on Tuesday also jumped, with the 2-year rate TMUBMUSD02Y climbing to 4.729%, its highest level since 2007. The 10-year Treasury yield TMUBMUSD10Ysoared 12.6 basis points to 3.953%, its highest since November.
President Vladimir Putin said Russia would suspend participation in its last major nuclear arms control treaty with the U.S.
In a national address on Tuesday, Mr. Putin insisted that he would not pull back from his invasion of...
In a national address on Tuesday, Mr. Putin insisted that he would not pull back from his invasion of Ukraine, suggesting the war would continue for a long time. His remarks came hours before President Biden was scheduled to speak in Poland.
European Union countries on Feb. 21 approved plans to auction carbon permits early to raise cash...
European Union countries on Feb. 21 approved plans to auction carbon permits early to raise cash to help them quit Russian gas, meaning the law can now enter into force.
The plan will raise 20 billion euros (US$21.3 billion) in grants from the EU carbon market, partly by holding carbon permit sales earlier than planned. Countries will be able to spend the grants on renewable energy and energy-saving renovations to help replace Russian gas, and projects to help heavy industry decarbonize.
The rules were agreed on last year by negotiators from EU countries and lawmakers, so Tuesday's approval was a formality that approved the deal with no changes. EU lawmakers okayed the deal earlier this month.
