WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
U.S. stock benchmarks finished mixed on Monday as investors kicked off a holiday-shortened week, with the Dow industrials snapping a three-day losing streak and the Nasdaq Composite posting its biggest daily drop in almost two weeks.
The Dow Jones Industrial Average rose 17.27 points, or less than 0.1%, to end at 35,619.25. It was the largest one-day point and percentage gain since Nov. 16, based on Dow Jones Market Data.
Stocks slumped Monday afternoon, reversing an earlier rally that came after President Joe Biden announced he would nominate Chairman Jerome Powell to continue to lead the Federal Reserve, rather than nominating Fed governor Lael Brainard for the post.
The S&P 500 and Nasdaq Composite fell 0.32% to 4,682.94 and 1.26% to 15,854.76, respectively, after setting intraday record highs.
U.S. stock futures were mildly lower in early morning trading on Tuesday after a tech-focused sell-off spurred by rising bond yields that saw the Nasdaq Composite drop more than 1%.
The S&P 500 and Nasdaq Composite fell on Monday as growth pockets of the market reacted to a jump in bond yields. The U.S. 10-year Treasury yield climbed by 9 basis points to above 1.62% on Monday.
Hong Kong’s benchmark provider Hang Seng announced it will remove troubled Chinese real estate developer Evergrande from one of its indexes — the China Enterprises index.
At the same time, it’s set to add Chinese technology giants JD and Netease to its main benchmark Hang Seng index. All the changes will take effect Dec. 6.
Oil prices rose on Monday but remained under pressure from rising COVID-19 cases in Europe and a potential release of Japanese and Indian oil reserves, raising concerns about both oversupply and weak demand.
Prices of the Brent and U.S. West Texas Intermediate (WTI) crude benchmarks fell more than $1 in early trading, hitting their lowest levels since Oct. 1.
The losses were later recovered. Brent was up 83 cents, or 1%, at $79.70 a barrel while U.S. crude had gained 80 cents, or 1%, to $76.73.
Gold prices fell more than 2% on Monday as the dollar jumped after Federal Reserve Chair Jerome Powell was nominated for a second term, driving expectations that the central bank may stay the course on tapering economic support.
Spot gold slipped 2.1% to $1,805.30 per ounce, its lowest since Nov. 5. U.S. gold futures settled 2.4% lower at $1,806.30.
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