S&P futures vs fair value: -20.00. Nasdaq futures vs fair value: -82.00. The...
S&P futures vs fair value: -20.00. Nasdaq futures vs fair value: -82.00.
The S&P 500 futures are down 20 points and are trading 0.5% below fair value. The Nasdaq 100 futures are down 82 points and are trading 0.6% above fair value. The Dow Jones Industrial Average futures are down 135 points and are trading 0.5% below fair value.
Stock futures indicate a lower open, pressured again by rising market rates. The 10-yr note yield is up another six basis points to 4.73% and the 2-yr note yield is up three basis points to 5.12%. Yesterday's disappointing price action, as evidenced by a 1.1% decline in the Invesco S&P 500 Equal Weight ETF (RSP), has also contributed to the negative bias this morning.
Benchmark U.S. crude oilfor November delivery fell $1.97to $88.82 a barrel Monday. Brent crude for December delivery fell $1.49to $90.71 a barrel.
Wholesale gasoline for November delivery rose 1 cent to $2.41 a gallon. November heating oilfell 8 cents to $3.22 a gallon. November natural gasfell 9 cents to $2.84 per 1,000 cubic feet.
Stocks end mostly higher Monday despite resumed U.S. debt selloff
Stocks closed mostly higher to kick off October as a sharp selloff...
Stocks closed mostly higher to kick off October as a sharp selloff in longer-dated U.S. government debt resumed. The Dow Jones Industrial AverageDJIA fell about 74 points, or 0.2%, ending near 33,433, according to preliminary FactSet data. The S&P 500 Index SPX ended flat at 4,288, while the Nasdaq Composite Index COMP gained 0.7%. Surging long-term borrowing costs remain a key focus in the final quarter of 2023, with the fear being they could derail the U.S. economy and spark more corporate defaults. The benchmark 10-year Treasury yield was punching higher to about 4.682% on Monday.
LONDON (Reuters) - Oil prices pared gains after earlier climbing $1 on Monday, with questions around...
LONDON (Reuters) - Oil prices pared gains after earlier climbing $1 on Monday, with questions around supply and global demand and ahead of comments from the U.S. Federal Reserve chair that could offer insight on future interest rate moves.