Stocks Dig Out Of September Ditch
Date
9/27/2023 3:20:54 PM
(MENAFN- Baystreet.ca) Stocks Dig out of September Ditch
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Stocks rose Wednesday, as Wall Street tried to recover from steep losses seen in the previous session, boosted by a dip in Treasury yields and a positive economic data release.
The Dow Jones Industrials lost 28.07 points to open mid-week Wednesday at 33,590.81, following a Tuesday session which proved its worst day since March.
The S&P 500 index eked higher 0.93 points to 4,274.46.
The nasdaq index scraped together gains of 2.37 points to 13,065.98.
Energy was the best-performing S&P 500 sector, rising 1%. Occidental Petroleum was up 2%, while Devon Energy and Pioneer Natural Resources were each up by 1%.
The Commerce Department reported Wednesday morning that orders for durable goods rose 0.2% in August. That topped a Dow Jones estimate for a decline of 0.5%.
Prices for the 10-year Treasury fell back, raising yields to 4.55% from Monday's 4.54%. Treasury prices and yields move in opposite directions.
Oil prices gained 93 cents to $90.59 U.S. a barrel.
Gold prices cratered 18 dollars to $1,918.60.
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