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• Dow snaps 4-day winning streak as stocks edge back from records
  Stocks stalled in tepid trading today, with most S&P 500 sectors...
  Stocks stalled in tepid trading today, with most S&P 500 sectors losing ground after two days of record closes to start the week. Focus lies ahead thanks to a packed menu of data and Fed speakers on the way tomorrow and Friday.
  

  
  
  • The S&P 500^® index (SPX) fell 10.68 points (–0.19%) to 5,722.25; the Dow Jones Industrial Average^® ($DJI) dropped 293.47 points (–0.70%) to 41,914.75; the Nasdaq Composite^® ($COMP) added 7.68 points (0.04%) to 18,082.21.
  
  
  • The 10-year Treasury note yield (TNX) climbed five basis points to 3.78% and seems stuck in a range between 3.7% and 3.8%.
  
  
  • The Cboe Volatility Index^® (VIX) rose slightly to 15.51, still near its September lows.
  
  
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• Oil prices end lower, even as Hurricane Helene disrupts Gulf output
  Oil futures finished lower Wednesday after posting strong gains a day earlier, when China’s announcement...
  Oil futures finished lower Wednesday after posting strong gains a day earlier, when China’s announcement of an aggressive monetary stimulus plan sparked a broad commodities rally.
  
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• API: US crude, product stockpiles retreated last week
  The American Petroleum Institute recorded a 4.34-million-barrel drop...
  The American Petroleum Institute recorded a 4.34-million-barrel drop in US crude oil stockpiles last week, far surpassing analysts' expectations of a 1.1-million-barrel decline. Gasoline and distillate inventories also decreased by 3.44 million barrels and 1.11 million barrels, respectively.
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• Port strike looms, portending economic gloom
  US ports are bracing for a tempest, but the ominous choppiness is in...
  US ports are bracing for a tempest, but the ominous choppiness is in the negotiating room. Dock workers on the East and Gulf Coasts are preparing to walk off the job if their union can’t negotiate a new contract with shipping companies by October 1, threatening a throwback to pandemic-era supply chain bottlenecks.
  
  The International Longshoremen’s Association union and the United States Maritime Alliance, the trade organization representing port operators, remain oceans apart in their talks. The main sticking points are worker pay and plans to automate certain container operations.
  
  The union warns that up to 45,000 port workers could strike. The labor stoppages would disrupt major ports that handle 60% of US shipping traffic, per Oxford Economics.
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• Biden addressed the UN for the last time
  In his final speech before the United Nations General Assembly yesterday,...
  In his final speech before the United Nations General Assembly yesterday, US President Joe Biden said the world is at an “inflection point,” reaffirmed his support for Ukraine against Russia’s invasion, implored global leaders to confront the climate crisis, and warned against a wider war in the Middle East as Israel continues to launch strikes on Hezbollah in Lebanon. Biden also cited his decision to step away from this year’s presidential race as an example for leaders to follow. “Some things are more important than staying in power,” he said.
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