Wed Premarket
Month-end and quarter-end flows in focus. A rebound in both oil prices $90.59, up 1.3% on the day and bond yields tempering the broader market mood. WTI crude rebounding after fell to a low of $88.60 after the US offered to release up to 40 million barrels from the SPR. Bond yields pulled back after Fed policymaker Williams toned down hawkish Fed expectations saying there is “no need for urgency” following the September rate hike.
Index Futures
SPX 0.03%
Dow 0.02%
NDX -0.10%
10-year Treasury yields also rebounded from lows near 5.20% to move just above 5.23%, though they remain well below the overnight high of 5.29%.
Investors will monitor ADP Employment Report, GDP, Personal Income and Outlays, and Chicago PMI.
2-year Treasury yield rose 0.2 basis points to 4.89%
10-year Treasury yield fell 3.0 basis points to 5.22%,
30-year Treasury yield fell 1.8 basis points to 5.55%.
Among S&P 500 stocks,
Steel Dynamics (STLD) +2.75%, Boeing (BA) +2.20%, IQVIA (IQV) +1.54%, CF Industries (CF) +1.45%, and Huntington Ingalls Industries (HII) +1.42%.
Northrop Grumman (NOC) -2.64%, Textron (TXT) -1.96%, Prologis (PLD) -1.61%, HCA Healthcare (HCA) -1.54%, and TKO Group (TKO) -1.45%.
Gold flat at $4,179
GBP leads, AUD lags on the day
Bitcoin up 0.3% to $83,834
US dollar failing to build on the gains from earlier this week.
EUR/USD up 0.1% to 1.1355
USD/JPY down 0.1% to 157.10
GBP/USD is up 0.4% to 1.3285 its highest levels in a week.