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What is the story about?
US stocks were little changed on Friday, September 18, as Treasury yields moved higher, with investors assessing the Federal Reserve’s first interest rate hike in three years and renewed concerns around the artificial intelligence sector.
The S&P 500 was up 0.1%, while the Nasdaq Composite gained 0.4%. The Dow Jones Industrial Average fell 57 points, or 0.1%.
The moves came a day after Wall Street rebounded from Wednesday’s sell-off triggered by the Fed’s rate decision. The Dow rose 316 points, or 0.6%, on Thursday, while the S&P 500 gained 1.1% and the Nasdaq Composite jumped 1.7%.
10-year Treasury yield nears 5%
Treasury yields rose on Friday, putting some pressure on equities. The yield on the benchmark 10-year Treasury note climbed more than 4 basis points to around 4.99%, moving back toward the 5% level.
The 10-year yield had crossed 5% earlier this week, reaching its highest level since July 2007, after the Fed raised interest rates by 25 basis points on Wednesday.
The central bank’s rate hike was widely expected, but its indication of at least one more increase this year has kept investors focused on the outlook for borrowing costs and inflation.
Stocks headed for mixed week
The major US stock indexes were on track for a mixed week. The Dow was down more than 1% for the week and headed for a third consecutive weekly decline.
The S&P 500 was down about 0.2% week-to-date, while the Nasdaq Composite was up around 0.7%, putting the tech-heavy index on course for a weekly gain.
Oil prices eased on Friday, although the broader market remained sensitive to movements in energy prices, Treasury yields and expectations for the Fed’s monetary policy.
US stock market today: Nasdaq futures rise, Dow slips; Oil prices ease
US stock futures were little changed on Friday, September 18, as investors assessed the Federal Reserve’s latest interest rate hike and weighed renewed concerns over the outlook for artificial intelligence.
Dow Jones Industrial Average futures slipped 0.1%, while S&P 500 futures were broadly flat. Nasdaq-100 futures gained 0.3%.
Wall Street closed higher in the previous session, with technology stocks leading a broad rebound after the major averages fell following the Fed’s rate decision on Wednesday.
The Dow Jones Industrial Average rose 316 points, or 0.6%, on Thursday. The S&P 500 gained 1.1%, while the Nasdaq Composite advanced 1.7%.
The Fed raised interest rates by 25 basis points on Wednesday, its first rate increase in three years. The move was widely expected, but the central bank indicated that at least one more rate hike could come this year.
Meanwhile, Warren Buffett, 96, is stepping down as chairman of Berkshire Hathaway’s board with immediate effect, the company said Friday. Buffett will remain on the board, while his son Howard G. Buffett will succeed him as chairman.
Oil prices, AI concerns in focus
Oil prices, which have eased back towards the $100-a-barrel level, have provided some relief to markets as the war in Iran approaches its seventh month. However, disruptions in the Strait of Hormuz continue to fuel concerns over energy supplies and inflation, complicating the outlook for global central banks.
Chip stocks have also recovered from a sell-off earlier in the week. The rebound followed calls from Anthropic and OpenAI for a slowdown in AI development.
The PHLX Semiconductor Index was only slightly lower for the week heading into Friday’s session.
Global markets
Asian markets ended broadly higher on Friday. Japan’s Nikkei 225 rose 1.38%, while South Korea’s Kospi gained 2.66%. China’s CSI 300 advanced 1.06%, while Australia’s S&P/ASX 200 was little changed.
European stocks were broadly lower, with the Stoxx 600 down 0.4%, retreating after a two-day winning streak.
Also Read: Warren Buffett gives up Berkshire chair after six decades, son Howard takes the reins
The S&P 500 was up 0.1%, while the Nasdaq Composite gained 0.4%. The Dow Jones Industrial Average fell 57 points, or 0.1%.
The moves came a day after Wall Street rebounded from Wednesday’s sell-off triggered by the Fed’s rate decision. The Dow rose 316 points, or 0.6%, on Thursday, while the S&P 500 gained 1.1% and the Nasdaq Composite jumped 1.7%.
10-year Treasury yield nears 5%
Treasury yields rose on Friday, putting some pressure on equities. The yield on the benchmark 10-year Treasury note climbed more than 4 basis points to around 4.99%, moving back toward the 5% level.
The 10-year yield had crossed 5% earlier this week, reaching its highest level since July 2007, after the Fed raised interest rates by 25 basis points on Wednesday.
The central bank’s rate hike was widely expected, but its indication of at least one more increase this year has kept investors focused on the outlook for borrowing costs and inflation.
Stocks headed for mixed week
The major US stock indexes were on track for a mixed week. The Dow was down more than 1% for the week and headed for a third consecutive weekly decline.
The S&P 500 was down about 0.2% week-to-date, while the Nasdaq Composite was up around 0.7%, putting the tech-heavy index on course for a weekly gain.
Oil prices eased on Friday, although the broader market remained sensitive to movements in energy prices, Treasury yields and expectations for the Fed’s monetary policy.
US stock market today: Nasdaq futures rise, Dow slips; Oil prices ease
US stock futures were little changed on Friday, September 18, as investors assessed the Federal Reserve’s latest interest rate hike and weighed renewed concerns over the outlook for artificial intelligence.
Dow Jones Industrial Average futures slipped 0.1%, while S&P 500 futures were broadly flat. Nasdaq-100 futures gained 0.3%.
Wall Street closed higher in the previous session, with technology stocks leading a broad rebound after the major averages fell following the Fed’s rate decision on Wednesday.
The Dow Jones Industrial Average rose 316 points, or 0.6%, on Thursday. The S&P 500 gained 1.1%, while the Nasdaq Composite advanced 1.7%.
The Fed raised interest rates by 25 basis points on Wednesday, its first rate increase in three years. The move was widely expected, but the central bank indicated that at least one more rate hike could come this year.
Meanwhile, Warren Buffett, 96, is stepping down as chairman of Berkshire Hathaway’s board with immediate effect, the company said Friday. Buffett will remain on the board, while his son Howard G. Buffett will succeed him as chairman.
Oil prices, AI concerns in focus
Oil prices, which have eased back towards the $100-a-barrel level, have provided some relief to markets as the war in Iran approaches its seventh month. However, disruptions in the Strait of Hormuz continue to fuel concerns over energy supplies and inflation, complicating the outlook for global central banks.
Chip stocks have also recovered from a sell-off earlier in the week. The rebound followed calls from Anthropic and OpenAI for a slowdown in AI development.
The PHLX Semiconductor Index was only slightly lower for the week heading into Friday’s session.
Global markets
Asian markets ended broadly higher on Friday. Japan’s Nikkei 225 rose 1.38%, while South Korea’s Kospi gained 2.66%. China’s CSI 300 advanced 1.06%, while Australia’s S&P/ASX 200 was little changed.
European stocks were broadly lower, with the Stoxx 600 down 0.4%, retreating after a two-day winning streak.
Also Read: Warren Buffett gives up Berkshire chair after six decades, son Howard takes the reins
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