Dow ends down over 200 points as stocks hit pause after last week's rally
U.S. stocks closed lower Monday amid rising Treasury yields,...
U.S. stocks closed lower Monday amid rising Treasury yields, as investors assessed the recent equities rally that had been sparked by optimism that inflation may be easing.The Dow Jones Industrial Average e DJIA, -0.63% finished down 0.6%, while the S&P 500 SPX, -0.89% slid 0.9% and the technology-heavy Nasdaq Composite COMP, -1.12% fell 1.1%, according to preliminary FactSet data. Investors keep looking for clues on how aggressively the Federal Reserve may need to be lifting interest rates to battle high inflation, as well as where its terminal rate could wind up. Fed Vice Chair Lael Brainard said Monday in an interview with Bloomberg that she thinks "it will probably be appropriate soon to choose a slower pace of increases." The yield on the 10-year Treasury note rose 3.7 basis points Monday to 3.865%, according to Dow Jones Market Data.
Oil futures settle lower, with U.S. prices down more than 3%
Oil futures ...
Oil futures declined on Monday, with U.S. prices losing more than 3% to erase Friday’s gain and then some. Losses followed a modest reduction in the Organization of the Petroleum Exporting Countries’ 2022 global demand forecast, as uncertainty continues to surround China’s COVID-19 policy and its outlook for energy demand. Still, with China looking to ease COVID restrictions and the potential price cap possibly Russia taking oil barrels off markets, “we feel risk is to the upside in energy markets,” said Tariq Zahir, managing member at Tyche Capital Advisors. U.S. benchmark West Texas Intermediate crude for December delivery CLZ22, fell $3.09, or 3.5%, to settle at $85.87 a barrel on the New York Mercantile Exchange after posting a gain of 2.9% on Friday.
The energy sector is off to a lower start, pressured by weakness in the...
The energy sector is off to a lower start, pressured by weakness in the crude complex and the major market futures. U.S. stocks are expected to open lower as investors believe the Federal Reserve may continue to be hawkish despite data that showed inflation is beginning to ease.
WTI and Brent crude oil are down in early trading as COVID-19 infections increase in China and on a stronger dollar. China reported 14,878 new COVID-19 infections for 12-November, including a record number of new daily cases in capital city Beijing as well as in manufacturing hubs Guangzhou and Zhengzhou. The Dollar Index is up +0.50% to 106.70, off intra-morning highs of 107.14. Additionally, recovering exports at the Caspian Pipeline Consortium is adding further pressure to futures.
Natural gas futures jumped this morning on forecasts for colder weather and more heating demand than previously expected.
Dow industrials break with downward stock-market trend to post narrow gain
U.S. stocks opened lower Monday as Treasury yields rose, with all three major equities indexes down after ...
U.S. stocks opened lower Monday as Treasury yields rose, with all three major equities indexes down after scoring gains last week. The Dow Jones Industrial Average DJIA, 0.17% was down 0.3% soon after the opening bell, while the S&P 500 SPX, 0.01% slipped 0.5% and the Nasdaq Composite COMP, -0.46% fell 0.8%, according to FactSet data, at last check. Meanwhile, the yield on the 10-year Treasury note was up around four basis points at 3.86% Monday morning. Federal Reserve Vice Chair Lael Brainard is scheduled to speak on the economic outlook at 11:30 a.m. Eastern time.
Norwegian energy firm Equinor-owned Aasgard B oil and gas processing platform was shut and partly evacuated...
Norwegian energy firm Equinor-owned Aasgard B oil and gas processing platform was shut and partly evacuated late Nov. 13 following a fire in a transformer, causing a production outage, newspaper Adresseavisen reported on Nov. 14.
There were no injuries onboard the facility located some 200 km offshore in the Norwegian Sea, an Equinor spokesperson was quoted as saying by the report.
The shutdown resulted in an outage of gas production amounting to 19.8 million cubic meters per day with “uncertain duration and capacity consequence,” Aasgard’s pipeline operator Gassco said in a regulatory filing.
Norway, Europe’s biggest supplier of natural gas, is still expected on Nov. 14 to deliver some 307 million cubic meters of gas via pipelines to Britain and the EU, according to Gassco.
