* Wall Street ends lower. * Oil hits 3-week high on supply cuts. * Dollar rebounds, up over 1% * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Pete Schroeder. U.S. stocks slipped Wednesday, ending the strongest two-day rally since 2020, while the dollar and Treasury yields rose on the back of signs the U.S. economy remained hot and Federal Reserve officials were resolute in rate hikes.
* Stocks rise in late-day surge on oversold conditions. * U.S. private payrolls increase in September - ADP. * Twitter eases from one-year high, Tesla falls 6% * Energy stocks jump as OPEC+ agrees deep oil output cuts. By Herbert Lash, Ankika Biswas and Bansari Mayur Kamdar.
By Julie Ingwersen. U.S. soybean futures fell about 1% on Wednesday on macroeconomic worries while corn and wheat were mixed in choppy trade as the dollar bounced and brokers awaited more information on the size of the U.S. harvest, analysts said.
* Wall Street shrinks earlier losses, still lower. * Oil gains as OPEC+ approves deep supply cuts. * Dollar rebounds, up over 1% * * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Pete Schroeder.
-European shares dropped on Wednesday, snapping a three-day rally as investors tempered expectations of central banks toning down their hawkish stance on inflation, with declining business activity in the region fuelling fears of an economic downturn.
* Euro zone business activity falls in Sept -PMI. * U.S. data indicates strong labour demand. * Britain's Tesco (TSCDF) falls after trimming profit view. By Devik Jain and Amruta Khandekar.
* Dollar gains. * Sterling falls after rising for six sessions. * NZ move dims hopes of slowdown in rate rises globally. By Caroline Valetkevitch. The dollar rebounded across the board on Wednesday as recent risk-on sentiment reversed and U.S. stocks dropped, with the euro and sterling down more than 1% each. The euro was down 1.4% at $0.9852 after rising 1.7% on Tuesday.
* U.S. private payrolls increase in September - ADP. * Twitter eases from one-year high, Tesla falls 5% * ISM non-manufacturing sector PMI 56.7 in Sept vs. * Indexes down: Dow 1.34%, S&P 1.74%, Nasdaq 2.31% By Ankika Biswas and Bansari Mayur Kamdar.
* U.S. private payrolls increase in September - ADP. * Blackstone in talks to buy Emerson Electric (EMR) assets - report. * Twitter eases from one-year high, Tesla slips. * Futures down: Dow 0.91%, S&P 0.91%, Nasdaq 0.96% By Ankika Biswas and Bansari Mayur Kamdar.
-Wall Street stocks closed lower on Wednesday, unable to sustain a late-day surge, after data showing strong U.S. labor demand again suggested the Federal Reserve will keep interest rates higher for longer. Fed officials have insisted on aggressive rate tightening to battle inflation, a message the market has feared would lead to a hard landing and likely recession.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
Line of Credit Log In Required