December contracts on the S&P 500 and Nasdaq 100 added at least 0.3 per cent each, a day after the underlying indexes tumbled to one-week lows amid a blurry midterms verdict and crypto-industry turmoil. Gen Digital Inc. jumped in New York premarket session as its earnings matched estimates. Treasuries fell, with yield curves bear-flattening. The dollar advanced, while oil extended its slide to a fourth day.
“The consumer price index is the center of attention,” Stephen Innes, managing partner at SPI Asset Management, wrote in a note. “An upside surprise could be temporarily painful given the current risk-off momentum. Investors are still incredibly jittery due to the crypto train wreck, U.S. election bets that failed to materialize, and the seemingly never-ending COVID malaise in China.”
In the U.S. midterms, Republicans headed for control of the House by smaller margins than forecast while the race for Senate continued. That belied investors' expectation of a GOP wave and a consequent Congress gridlock seen as positive for risk sentiment. Both the S&P 500 and Nasdaq 100 tumbled more than two per cent on Wednesday.
China's COVID struggles also weighed on the demand outlook for oil, sending West Texas Intermediate crude futures slipping toward the US$85-per-barrel mark.
$HUGE developing neurodegenerative medicine for multiole sclerosis
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »