Stocks open higher on Wall Street but remain lower for week

The S&P 500 was up 0.2% in the early going Thursday and the tech-heavy Nasdaq was down 0.1%. The Dow Jones Industrial Average was up 0.5%. Energy companies were doing better than the rest of the market. Exxon Mobil was up a little over 2%. Crude oil prices turned higher after closing at their lowest point of the year a day earlier. Bond yields rose. The yield on the 10-year Treasury note, which helps set mortgage rates, rose to 3.50%.

Most observers expect the Fed to raise its rate by another half-point when it meets next week, which would be a slightly lighter touch than its last four increases of three-quarters of a point. Experts warned, however, that the "zero-COVID" restrictions can't be lifted completely until at least mid-2023 because millions of elderly people still must be vaccinated and the health care system strengthened.

In Asian trading, Hong Kong's Hang Seng gained 3.4% to 19,450.23, while the Shanghai Composite lost 0.1% to 3,197.35. Wall Street ended a wobbly day of trading with more losses Wednesday, with the S&P 500 down 0.2% in its fifth straight loss. The Nasdaq composite, which is heavily weighted with tech stocks, fell 0.5% and the Dow industrials were flat.

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.

U.S. SEC to vote on proposals that could overhaul Wall Street tradingRegulator is set to mull some of the biggest changes to the American equity markets in nearly two decades
Source: globeandmail - 🏆 5. / 92 Read more »

Wall Street chorus grows louder warning that 2023 will be uglyWall Street watchers are loudly warning that next year’s outlook for the U.S. economy and stocks is grim. Find out more here.
Source: fpinvesting - 🏆 43. / 63 Read more »

Wall Street chorus grows louder warning that 2023 will be uglyWall Street watchers are loudly warning that next year’s outlook for the U.S. economy and stocks is grim. Find out more here.
Source: financialpost - 🏆 7. / 85 Read more »

Wall Street chorus grows louder warning that 2023 will be uglyWall Street watchers are loudly warning that next year’s outlook for the U.S. economy and stocks is grim. Find out more here.
Source: nationalpost - 🏆 10. / 80 Read more »

Premarket: World stocks sputter as growth fears offset China COVID shiftInvestors unnerved after Wall Street bankers warn a recession is likely coming
Source: globeandmail - 🏆 5. / 92 Read more »