This is higher than its previous estimate of 2.3%, which can be attributed to recent data released from the U.S. Currently, it estimates that the economy will expand by about 2.7% in the third quarter. The “nowcast” becomes more accurate as more economic data is released throughout the quarter. The Atlanta Federal Reserve updated its latest GDPNow reading, which allows it to estimate GDP growth in real time. Similarly, the Two-Year Treasury yield also increased, as it hovers around 4.15%. 10-Year Treasury yield increased significantly to 3.75%, an increase of 12.3 basis points. In addition, WTI crude oil remained above $80 per barrel as it continued its approach toward the $90 per barrel level.įurthermore, the U.S. Conversely, the energy sector was the session’s leader, with a gain of 2.13%. The utility sector was the session’s laggard, as it fell 2.22%. As a result, the recent two-day winning streak came to an end. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq 100 fell 0.14%, 0.2%, and 0.08%, respectively. CNN Sans ™ & © 2016 Cable News Network.Stock indices finished Wednesday’s trading session in the red after staging a brief comeback in the final hour of trading.
Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account (UNH) are all up this year and are the top stocks in the Dow after Chevron. Healthcare stocks, typically a defensive sector that holds up better during tough economic times, have done well too. (CVX) is the best performing stock in the Dow this year while Warren Buffett-backed Occidental Petroleum Oil prices are up for the year, partly due to supply concerns in Europe resulting from Russia’s invasion of Ukraine. Still, there are some winners even in this brutal market environment. Bitcoin prices have fallen off a cliff, plummeting nearly 60% in 2022. Think gold is a good place to ride out the storm? The price of the yellow metal is down 10% this year. But two popular, widely held bond funds, the Vanguard Total Bond Market Index Fund ETF That weighs on returns.īonds are supposed to be safe havens during times of market and economic volatility. Bond yields have surged, which means that prices are down. There have been few places for investors to run and hide this year. It’s the bear market for just about everything. The CNN Business Fear & Greed Index, which measures seven indicators of market sentiment, sank further into Extreme Fear territory. Traders are betting that the labor market strength will keep pressure on the Federal Reserve to continue raising interest rates aggressively for the rest of this year and in 2023.
The job market remains relatively healthy, even as the broader economy has contracted.
But fears about inflation, rate hikes, rising bond yields and recession returned with a vengeance in August and September.Ī drop in weekly jobless claims spooked investors Thursday. The stock market had a promising start to the quarter, soaring in July. 32nm Westmere chip sits on display during the Microsoft Global Energy Forum in Houston, Texas, U.S., on Thursday, Jan.