Housing market sentiment is nearing all-time lows. Fannie Mae's Home Purchasing Sentiment...
Housing market sentiment is nearing all-time lows. Fannie Mae's Home Purchasing Sentiment Index dropped this week while mortgage rates moved higher. Here's what you want to know.
US stock futures fall early Thursday, as investors pick...
US stock futures fall early Thursday, as investors pick over Powell's latest comments and get ready for the jobless claims report due before the bell. Meanwhile, Silvergate shares are sinking after the key bank for crypto firms said it will shut down. Here are the latest market moves.
Earnings on deck: Oracle, Applied Materials, and JD.com, all reporting.
Dow falls slightly as U.S. stocks end mixed after Fed Chair Powell’s testimony
U.S. stocks closed mixed Wednesday, with the Dow Jones Industrial Average booking back-to-back losses...
U.S. stocks closed mixed Wednesday, with the Dow Jones Industrial Average booking back-to-back losses after Federal Reserve Chair Jerome Powell’s second day of congressional testimony on monetary policy. The Dow DJIA, -0.18% ended 0.2% lower, while the S&P 500 SPX, +0.14% rose 0.1% and the Nasdaq Composite COMP, 0.40% gained 0.4%, according to preliminary data from FactSet. Powell said Wednesday during testimony before the U.S. House Financial Services Committee that no decision has been made on the size of its interest rate hike at its policy meeting later this month. In his testimony Tuesday before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Powell had opened the door to potentially accelerating the pace of rate hikes.
The energy sector is having a mixed start, pressured...
The energy sector is having a mixed start, pressured by weakness in the underlying commodities, but supported by mild support in the major market futures which steadied following yesterday’s fed-driven selloff.
WTI and Brent crude oil are trading lower on concerns over more aggressive interest rate hikes following Chair Powell's testimony yesterday. Investors are also looking to the weekly EIA report to gain further clarity on inventories after the API data showed a decline in crude inventories for the first time after 10 weeks of builds. Also dampening sentiment, Barclays lowered its 2023 Brent forecast by $6 to $92 a barrel and WTI by $7 to $87, "due primarily to more resilient-than-expected Russian supplies," the bank said.
Natural gas futures are down as flows to the Freeport LNG export plant were on track to drop for the first time after the plant exited an eight-month outage last month. Gas flows to their plant were on track to reach just 0.1 bcfd on Wednesday, down from 1.0 bcfd on Tuesday.
