Summary Of the Markets Today:
- The Dow closed down 410 points or 0.96%,
- Nasdaq closed down 296 points or 1.60%,
- S&P 500 closed down 54 points or 0.92%,
- Gold $2,730 down $30.00 or 1.09%,
- WTI crude oil settled at $71 down $0.76 or 1.07%,
- 10-year U.S. Treasury 4.240 down 0.034 points or 0.273%,
- USD index $104.39 up $0.32 or 0.30%,
- Bitcoin $66,308 down $1,107 or 1.67%, (24 Hours)
*Stock data, cryptocurrency, and commodity prices at the market closing
Today’s Highlights
Stocks slumped, with major indexes falling: The 10-year Treasury yield rose to 4.24%, reaching levels not seen since July. Doubts about potential Federal Reserve rate cuts weighed on investors. Interest rate volatility hit its highest level since December 2023. Busy earnings day, highlighted by Boeing and Tesla reports. Tesla (TSLA) earnings due at 5:30 pm EST, with focus on the cheaper EV model Robotaxi . Boeing (BA) reported a large quarterly loss – what a surprise :). McDonald’s (MCD) stock fell over 5% after its Quarter Pounder burgers were linked to an E. coli outbreak. Several big tech names lagged: Meta down over 3%. Amazon down over 2.5%. Nvidia down over 2.5%.
Click here to read our current Economic Forecast – October 2024 Economic Forecast: One More Recession Flag Removed Yet Little Headway On Inflation
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
Total existing-home sales fell 3.5% year-over-year in September 2024. The median existing-home price was $404,500, up 3.0% from one year ago. Existing home sales has been declining all this year (see blue line in the graph below). NAR Chief Economist Lawrence Yun stated:
Home sales have been essentially stuck at around a four-million-unit pace for the past 12 months, but factors usually associated with higher home sales are developing,” said . “There are more inventory choices for consumers, lower mortgage rates than a year ago and continued job additions to the economy. Perhaps, some consumers are hesitating about moving forward with a major expenditure like purchasing a home before the upcoming election. Moderating home price increases are welcome news for home buyers. With wage growth now outpacing home price appreciation, housing affordability will improve.
According to the October 2024 Beige Book, overall economic activity was largely unchanged across most Federal Reserve Districts. Two districts reported modest growth. Manufacturing activity declined in most districts. Banking sector activity was steady to slightly, with mixed loan demand. Consumer spending reports were mixed, with shifts toward less expensive options. Housing market activity has generally held steady, though affordability remains an issue. Commercial real estate markets were mostly flat. The agricultural and energy sectors saw flat to modest declines. Employment increased slightly overall. Worker turnover was low and layoffs remained limited. Hiring focused more on replacement than growth. Worker availability improved in many areas. Wages continued to rise at a modest to moderate pace. The pace of wage increases slowed in some areas. Inflation continued to moderate, with slight to modest price increases in most districts. Some food products saw sharper price increases. Home prices edged up in many areas. Consumers showed increased price sensitivity. Input prices generally rose faster than selling prices, compressing profit margins. Insurance and healthcare costs saw more acute price pressures. Note that the Beige Book is a compilation of anecdotal information from various sources, including business leaders, economists, and market experts – bottom line is that this is unsubstantiated opinion.
Here is a summary of headlines we are reading today:
- Kazakhstan Seeks Permanent Normal Trade Status with U.S.
- Harbour Energy Joins North Sea Oil Exodus Ahead Of Tax Hikes
- Shell Buys US Power Plant for Foothold in New England Market
- Oil Ticks Lower on Crude, Gasoline Build
- Tesla investors have a lot of questions for Musk about Trump
- Shares of Peloton surge 11% after David Einhorn says stock is significantly undervalued
- Dow tumbles 400 points, suffering worst day since early September: Live updates
- Bitcoin dips to $65,000 level, continuing to shed last week’s gains: CNBC Crypto World
- 10-year Treasury yield briefly tops 4.25%, hits highest level since late July
- Ugly, Dovish Beige Book Warns Of Manufacturing Decline In “Most Districts”, Greenlights Further Rate Cuts
- 10-year Treasury yield ends at 3-month high as volatility gauge hits 2024 peak
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.
The Market in Perspective
| Here are the headlines moving the markets. | |
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Energy Supply Chains Face Challenges and OpportunitiesThe combination of growing global energy demand, evolving geopolitical dynamics, and the energy transition calls for energy supply chains to become bigger and better. Many service segments are projected to experience strong growth in the short and medium term. Alongside increased activity in the oil and gas sector, some of the fastest-growing service segments will be driven by demand from low-carbon energy sectors. Service price levels in most segments are currently 10% to 15% higher than pre-COVID-19 pandemic levels. While there is little… Read more at: https://oilprice.com/Energy/Energy-General/Energy-Supply-Chains-Face-Challenges-and-Opportunities.html |
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Kazakhstan Seeks Permanent Normal Trade Status with U.S.The Biden Administration and Kazakhstan are both eager to boost mutual trade and investment. But an antiquated vestige of the Cold War known as the Jackson-Vanik amendment remains an impediment to stronger US-Kazakh economic ties. Kazakhstan is a keen supporter of a US initiative launched earlier this year known as the B5+1 process, under which Central Asian states strive to lower trade barriers to attract higher levels of Western investment. At the same time, Kazakh officials complain that the ability to trade with the United States is clouded… Read more at: https://oilprice.com/Geopolitics/International/Kazakhstan-Seeks-Permanent-Normal-Trade-Status-with-US.html |
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Harbour Energy Joins North Sea Oil Exodus Ahead Of Tax HikesTop British North Sea producer Harbour Energy (OTCPK:PMOIF) has revealed plans to sell stakes in North Sea oilfields and has revived plans for a U.S. listing, joining a growing list of oil and gas companies scaling back investments ahead of new tax increases on the sector. Elected in July, the Labour government wants to use the revenue from oil and gas to raise funds for renewable energy projects. UK Finance Minister Rachel Reeves is set to announce the tax increases in her budget on Oct. 30. Harbour is also moving ahead with sale of stakes… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Harbour-Energy-Joins-North-Sea-Oil-Exodus-Ahead-Of-Tax-Hikes.html |
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BRICS Expansion Reshapes Global Economic LandscapeLeaders of China, Russia, India and other BRICS nations gathered in Kazan, Russia on Tuesday for the bloc’s first annual summit since its major expansion last year. In August 2023, the group decided to invite six nations to join. Four of these nations – Egypt, Ethiopia, Iran and the United Arab Emirates – formally joined the bloc on January 1, 2024. Argentina rejected the offer and Saudi Arabia is still considering it. As Statista’s Felix Richter reports, the expansion of BRICS beyond founding members Brazil, Russia, India and… Read more at: https://oilprice.com/Geopolitics/International/BRICS-Expansion-Reshapes-Global-Economic-Landscape.html |
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Shell Buys US Power Plant for Foothold in New England MarketShell Energy North America (US), a subsidiary of Shell Plc (NYSE:SHEL), has agreed to acquire a 100% equity stake in RISEC Holdings, LLC, owner of a 609-megawatt two-unit combined-cycle gas turbine power plant located in Rhode Island. The purchase will boost Shell’s presence in the highly competitive Independent System Operator New England (ISO New England) power market. “Shell has had a successful integrated gas and power business in the growing ISO New England market for over 20 years, and this acquisition secures valuable trading opportunities… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Shell-Buys-US-Power-Plant-for-Foothold-in-New-England-Market.html |
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The Market is Pricing In Another ‘Warm Winter’ for Natural Gasvia AEGIS Hedging The Winter ’24/’25 (Nov-Mar) natural gas strip is only 30 cents above where Winter ’23/’24 settled. Does this make sense? Just over two weeks ago, Winter ’24/’25 was trading at $3.34, but now at $2.80, it seems like the peak-winter risk premium has evaporated, and the market is pricing in another anomalously warm winter. The chart above shows that prices gradually eroded last year, settling for November 2023 at $3.64, but slipping all the way to $1.65 in March. Last winter averaged $2.52. This… Read more at: https://oilprice.com/Energy/Natural-Gas/The-Market-is-Pricing-In-Another-Warm-Winter-for-Natural-Gas.html |
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NextEra Energy Beats Q3 Profit Estimates, Boosting SharesRenewable energy power utility NextEra Energy Inc. (NYSE:NEE) has delivered a healthy third quarter earnings report, giving the clean energy utility giant’s share a 0.25% boost in Wednesday trading. The company reported Q3 2024 GAAP net income of $1.852 billion, or $0.90 per share, compared with $1.219 billion, or $0.60 per share, for Q3 2023 while non-GAAP EPS of $1.03 beat Wall Street expectations by $0.06. NextEra Energy also reported net income of $2.127 billion, or $1.03 per share, on an adjusted basis, an improvement on adjusted… Read more at: https://oilprice.com/Latest-Energy-News/World-News/NextEra-Energy-Beats-Q3-Profit-Estimates-Boosting-Shares.html |
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Italy’s Largest Insurer Stops Coverage for Downstream Oil and GasGlobal oil and gas face an ever-increasing diffuse financing future, as not only politicians and pressure groups call for divestments or an end to financing oil and gas, but also insurers are leaving the market. At the same time, demand for hydrocarbons is still up, even though the IEA calls for investments again. In a surprise statement, Italy’s largest insurer, Generali, reports to end its new coverage of downstream operations, mainly oil and gas transportation, processing, and distribution. There is a caveat clause; coverage can be given… Read more at: https://oilprice.com/Energy/Energy-General/Italys-Largest-Insurer-Stops-Coverage-for-Downstream-Oil-and-Gas.html |
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Traders Amass Record Number of Oil Options as Middle East Risks RiseOil traders have been buying a record number of options contracts in Brent Crude this month as risks of a war in the Middle East grow and market participants look to hedge against price spikes. Oil options are contracts that give the holder the right, but not the obligation, to buy or sell oil at a set price if it moves beyond that price within a set timeframe. The number of open options contracts in Brent has soared by over 25% so far in October, according to data compiled by Bloomberg. This week, the total number of these exceeded for the first… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Traders-Amass-Record-Number-of-Oil-Options-as-Middle-East-Risks-Rise.html |
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Oil Ticks Lower on Crude, Gasoline BuildCrude oil prices moved lower today after the U.S. Energy Information Administration reported an inventory increase of 5.5 million barrels for the week to October 18. The inventory change followed an American Petroleum Institute estimate of a build totaling 1.64 million barrels for the reported period. It also compared with a draw of 2.2 million barrels for the previous week, as reported by the EIA last Thursday. In gasoline, the authority estimated an inventory build of 900,000 barrels for the week to October 18, with production averaging 10 million… Read more at: https://oilprice.com/Energy/Crude-Oil/Oil-Ticks-Lower-on-Crude-Gasoline-Build.html |
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Equinor Meets Gas Supply Commitment Despite Platform ShutdownEquinor will survey on Wednesday the damage at its offshore Sleipner B natural gas platform, which was shut down earlier this week, but Norway’s energy giant continues to meet its gas supply commitments. Early on Tuesday, Equinor said that its Emergency Response team was notified of smoke development in a switchgear room at the unmanned Sleipner B platform at 4:40 a.m. local time. Production has been shut down, and the facility has been depressurized. In the latest update at noon local time on Wednesday, the company said that the emergency… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Equinor-Meets-Gas-Supply-Commitment-Despite-Platform-Shutdown.html |
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Gold Surges to New Highs Amidst ‘Trump Trade’ Momentum‘Soft’ Survey data today (from Philly and Richmond Feds) were better than expected BUT – and it’s a big but – inflation expectations are surging once again… Source: Bloomberg …and current and expected spending on software and equipment (cough AI cough) is plunging? Source: Bloomberg The surge in Prices Paid and Received dominated the downside in capex from the surveys and sent rate-cut expectations (hawkishly) lower again on the day… Source: Bloomberg So with all that said – and ignored – the market is now transfixed on the election… and… Read more at: https://oilprice.com/Energy/Energy-General/Gold-Surges-to-New-Highs-Amidst-Trump-Trade-Momentum.html |
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U.S. Refiners Set to Report Slump in Profits on Lower MarginsAmerica’s refiners are expected to report much lower profits for the third quarter compared to a year earlier, as refining margins have slumped to multi-year lows amid tepid fuel demand and increased global fuel supply. The 3-2-1 crack spread – which is a theoretical refinery crude yield to produce two barrels of gasoline and one barrel of diesel for every three barrels of crude input – slumped in the U.S. last month to $14.28 per barrel, the lowest level since the beginning of 2021, according to Reuters estimates. Analysts expect… Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Refiners-Set-to-Report-Slump-in-Profits-on-Lower-Margins.html |
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Goldman Sachs Sees Limited Upside for Oil Prices in 2025Oil prices are expected to average $76 per barrel next year amid sufficient supply and ample spare capacity, according to Goldman Sachs. “Overall, we still see the medium-term risks to our $70-85/bbl range as two-sided but skewed moderately to the downside on net as downside price risks from high spare capacity and potentially broader trade tariffs outweigh upside price,” the investment bank’s analysts wrote in a note carried by Reuters. Oil prices are currently close to Goldman’s call for next year. Early on Wednesday,… Read more at: https://oilprice.com/Energy/Energy-General/Goldman-Sachs-Sees-Limited-Upside-for-Oil-Prices-in-2025.html |
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Court Dismisses Rosneft’s Challenge to Shell’s Sale of German Refinery StakeA regional German court has dismissed a challenge by Rosneft against the planned sale of Shell’s stake in one of the largest German refineries, in which both companies hold interests. The Düsseldorf regional court dismissed Rosneft’s complaint as lacking legal grounds, a spokesperson for the court told Reuters on Wednesday. The Russian state-controlled oil giant holds a 54% stake in the Schwedt refinery, the fourth-largest refinery in Germany, which gets its oil from the Druzhba oil pipeline from Russia. The Schwedt refinery… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Court-Dismisses-Rosnefts-Challenge-to-Shells-Sale-of-German-Refinery-Stake.html |
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Tesla investors have a lot of questions for Musk about TrumpOn a forum that Tesla uses to solicit questions from investors ahead of earnings, there are a bunch of questions about Republican nominee Donald Trump. Read more at: https://www.cnbc.com/2024/10/23/tesla-investors-have-a-lot-of-questions-for-musk-about-trump.html |
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Shares of Peloton surge 11% after David Einhorn says stock is significantly undervaluedPeloton has been in the midst of a turnaround and Greenlight Capital’s David Einhorn thinks the stock is significantly undervalued. Read more at: https://www.cnbc.com/2024/10/23/david-einhorn-says-peloton-is-significantly-undervalued.html |
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Dow tumbles 400 points, suffering worst day since early September: Live updatesStocks fell on Wednesday after the S&P 500 posted its first back-to-back loss since early September, while Treasury yields moved higher. Read more at: https://www.cnbc.com/2024/10/22/stock-market-today-live-updates.html |
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CDC told McDonald’s about potential E. coli outbreak late last weekRoughly a fifth of McDonald’s U.S. restaurants are not selling Quarter Pounder burgers at this time. Read more at: https://www.cnbc.com/2024/10/23/mcdonalds-e-coli-cdc-notified-about-outbreak-last-week.html |
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Abercrombie & Fitch responds to former CEO’s sex trafficking arrest, says it will cooperate with law enforcementAbercrom,bie & Fitch said that it will cooperate with law enforcement after its former CEO Mike Jeffries was arrested on sex trafficking and related charges. Read more at: https://www.cnbc.com/2024/10/23/abercrombie-responds-to-ceo-mike-jeffries-sex-trafficking-arrest.html |
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Defensive stocks offer solid dividend yields. Bank of America likes these namesThe Wall Street bank called out a few buy-rated energy pipeline operators. Read more at: https://www.cnbc.com/2024/10/23/defensive-stocks-pay-solid-dividends-bank-of-america-likes-these-names.html |
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Watch Ripple CEO Brad Garlinghouse speak live on legal battle with SEC and upcoming electionRipple CEO Brad Garlinghouse will speak at DC Fintech Week in Washington, D.C., on Wednesday afternoon. Read more at: https://www.cnbc.com/2024/10/23/watch-ripple-ceo-brad-garlinghouse-speak-live-on-sec-legal-battle.html |
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Bitcoin dips to $65,000 level, continuing to shed last week’s gains: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Chris Ahn, partner at Haun Ventures, discusses why Stripe is buying stablecoin platform Bridge for $1.1 billion. Read more at: https://www.cnbc.com/video/2024/10/23/bitcoin-dips-65000-continuing-shed-last-weeks-gains-crypto-world.html |
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Apple analyst Kuo says company cut iPhone 16 orders by 10 million unitsApple shares slid Wednesday after industry supply chain analyst Ming-Chi Kuo said the company has cut orders for the iPhone 16 by about 10 million units. Read more at: https://www.cnbc.com/2024/10/23/apple-analyst-kuo-says-company-cut-iphone-16-orders-10-million-units.html |
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Apple releases new preview of its AI, including ChatGPT integrationApple on Wednesday released a beta version of a slew of Apple Intelligence features, including its long-awaited ChatGPT integration. Read more at: https://www.cnbc.com/2024/10/23/apple-releases-new-preview-of-its-ai-including-chatgpt-integration-.html |
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She had her dream job. Now she’s facing death threats, a cyberstalker and growing legal billsMisinformation researchers say they are facing a more treacherous landscape this election season than in the past, fueled by online trolls and lawsuits. Read more at: https://www.cnbc.com/2024/10/23/how-trolls-lawsuits-caused-trust-and-safety-winter-before-election.html |
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‘Higher prices, larger deficits’: 23 Nobel Prize-winning economists slam Trump agenda, endorse HarrisExperts estimate that Donald Trump’s budget plan would expand federal deficits by five times more than Vice President Kamala Harris’ proposals. Read more at: https://www.cnbc.com/2024/10/23/nobel-prize-winning-economists-donald-trump-agenda-endorse-harris.html |
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10-year Treasury yield briefly tops 4.25%, hits highest level since late JulyThe U.S. 10-year Treasury yield rose again Wednesday as traders digested the latest comments from Fed officials on the trajectory of interest rate cuts. Read more at: https://www.cnbc.com/2024/10/23/us-treasurys-yields-closely-watched-putting-pressure-on-stocks-.html |
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Watch: Angry Screeching Karen Confronts Homeowner For Voting For TrumpAuthored by Paul Joseph Watson via Modernity.news, A video taken by a Ring doorbell shows an angry woman furiously confronting a homeowner for voting for Trump, screeching at her, “You are voting for the devil!”
The clip, which was posted on X, shows that Trump Derangement Syndrome is still running rampant. According to the time stamp on the camera, the incident took place yesterday evening. The homeowner placed a political sign in her front yard, prompting the Karen, arms folded and seething with righteous indignation, to walk up to her doorstep and offer her shrill opinion (which nobody asked for).
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Ugly, Dovish Beige Book Warns Of Manufacturing Decline In “Most Districts”, Greenlights Further Rate CutsBack in September, the otherwise sleepy and mostly boring report that is the Fed’s Beige Book report (which nobody otherwise reads due to its sheer size) got a sudden boost of notoriety and popularity when none other than Jerome Powell explained after the Fed’s 50bps rate cut, that he had been closely following the Beige Book which had emerged as a driving force behind the Fed’s unexpected “jumbo” 50bps rate cut. And unlike others, we actually do read the Beige Book, which is why two weeks before the FOMC rate cut we titled our analysis of the latest report as follows: “Ugly Beige Book Reveals Economic Activity “Flat Or Declining”, Consumer Spending Slowing In Most Districts.” So one can see why Powell panicked. Fast forward to today when moments ago the Fed published its latest, October, Beige Book which indicated a continuation of the “ugly” sluggish conditions observed in September, and which on its own, will likely be sufficient to enable further rate cuts in coming months. According to the Fed’s latest report, economic activity on balance was “little changed in nearly all Districts since early September, though two Districts reported modest growth.” Worse, “most Districts reported declining manufacturing activity.” Additionally, reports on consumer spending were mixed, “with some Districts noting shifts in the composition of purchases, mostly toward less expensive alternatives” indicating the Fed will likely have to ease further … Read more at: https://www.zerohedge.com/markets/ugly-dovish-beige-book-warns-manufacturing-decline-most-districts-greenlights-further-rate |
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Bill Ackman Reveals The Moment He Became RedpilledOn the Triggernometry podcast, billionaire hedge fund manager Bill Ackman reflected on a pivotal moment that reshaped his perception of media trustworthiness, explaining how he and many others were misled by the media concocting the “Very Fine People” hoax against then-President Donald Trump. KONSTANTIN KISIN: You thought very carefully about who to support in this election, and you have spoken a number of times about some of the things that you believed about Donald Trump, for example, that you were misled about by the mainstream media. That’s the kind of environment you’re really talking about. Where somebody runs and they immediately become the sort of demon monkey, and they’re completely misrepresented. It doesn’t mean they don’t have flaws, but they’re misrepresented about the things that they say. Is there a way to change that, first and foremost? BILL ACKMAN: You need neutral spaces in media, by the way—neutral spaces where you can counteract the—I hate to use the word misinformation because that itself has problems. Look, I don’t want to sit here and just be an advertisement for X, but what’s interesting is that when someone writes a profile of me in some media form, I can, within an hour of that article comin … Read more at: https://www.zerohedge.com/political/bill-ackman-reveals-moment-he-became-redpilled |
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Massive Lithium Deposits Found In Southwestern ArkansasAuthored by Rudy Blalock via The Epoch Times (emphasis ours), A groundbreaking study led by the U.S. Geological Survey (USGS) revealed a potentially massive lithium reserve beneath southwestern Arkansas, which researchers say far exceeds the current worldwide demand.
Brine ponds and processing areas of a lithium mine in a file photo. Martin Bernetti/AFP via Getty Images According to the study published in Science Advances, researchers estimate between 5 and 19 million tons of lithium reserves are present in the region. If commercially recoverable, the supply could potentially meet the projected 2030 world demand for lithium in car batteries nine times over, according to a Read more at: https://www.zerohedge.com/commodities/massive-lithium-deposits-found-southwestern-arkansas |
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Government mulls giving workers twice as long to strikeA document produced by the government says the mandate to strike could be extended to a year from six months. Read more at: https://www.bbc.com/news/articles/cx279nypygvo |
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Starbucks boss shakes up menu to win back customersThe coffee shop chain has also promised to look at pricing and staffing to prevent bottlenecks Read more at: https://www.bbc.com/news/articles/czxgxjrdy80o |
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‘Sorry’ water boss has plan to end sewage spillagesWater UK chief apologises for the industry’s performance as the sector faces a “root and branch” review. Read more at: https://www.bbc.com/news/articles/c8elewdzy59o |
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Waaree Energies beats Tatas and Bajaj to set new IPO record with 97.34 lakh applicationsBajaj Housing Finance previously held the record with 90 lakh applications, followed by Tata Technologies with 73 lakh applications. The Rs 4,321 crore IPO received a strong response, attracting bids worth Rs 2.41 lakh crore and achieving an overall subscription of 76 times, including 208 times in the institutional category and 62 times in the non-institutional segment. Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/waaree-energies-beats-tatas-and-bajaj-to-set-new-ipo-record-with-97-34-lakh-applications/articleshow/114510151.cms |
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RVNL, Mazagon Dock among 140 multibagger stocks with higher retail holding versus institutionalOver 140 stocks that have more retail holdings than institutional in the past year have delivered significant returns. Nine state-run companies and numerous private sector companies are among these multibaggers. Experts advise caution as many lesser-known stocks have liquidity risks. Some stocks like Kaycee Industries and Cropster Agro are recommended for exit. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/rvnl-mazagon-dock-among-140-multibagger-stocks-with-higher-retail-holding-versus-institutional/articleshow/114488908.cms |
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Tech View: Nifty’s drop below 24,350 could trigger a slide to 24K in near term. How to trade tomorrowNifty’s trend remains weak, currently positioned near a critical support level on the weekly charts, suggesting a potential for an upside bounce from current or lower levels. A sustained close above 24,650-24,700 would confirm this upward move. However, if the index slides below 24,350, it could drop further to the 24,000 mark in the near term, according to Nagaraj Shetti of HDFC Securities. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-niftys-drop-below-24350-could-trigger-a-slide-to-24k-in-near-term-how-to-trade-tomorrow/articleshow/114508831.cms |
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10-year Treasury yield ends at 3-month high as volatility gauge hits 2024 peakU.S. government debt sold off for a third session on Wednesday, pushing long-dated Treasury yields further into three-month highs, as investors remained wary that the approaching Nov. 5 election could exacerbate the government’s fiscal deficit. Read more at: https://www.marketwatch.com/story/treasury-yields-rise-to-near-3-month-highs-as-volatility-gauge-hits-new-2024-peak-23c387b8?mod=mw_rss_topstories |
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Fed Beige Book continues to point to sluggish economyNine out of 12 districts report flat or declining activity. Read more at: https://www.marketwatch.com/story/fed-beige-book-continues-to-point-to-sluggish-economy-6248d06a?mod=mw_rss_topstories |
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Oil prices end lower with weekly U.S. crude supplies up by over 5 million barrelsOil futures settled lower Wednesday as official U.S. data showed an unexpected weekly climb in domestic crude inventories, prompting prices to post their first loss in three sessions. Read more at: https://www.marketwatch.com/story/oil-prices-fall-after-industry-data-shows-rise-in-u-s-crude-inventories-1b6d8026?mod=mw_rss_topstories |
