Stock Comeback Falls Short, Dow Again Declines

(MENAFN- Baystreet.ca) Stock Comeback Falls Short, Dow Again Declines






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The Dow Jones Industrial Average fell Wednesday, building on the steep losses from the previous session, as an uptick in Treasury yields and oil prices dented investor sentiment.
The blue-chip index lost 68.61 points to conclude Wednesday at 33,550.27, following a Tuesday session which proved its worst day since March.
The S&P 500 index squeezed higher by 0.98 points to 4,274.51.
The NASDAQ index moved ahead 29.24 points to 13,092.85.
Those moves raised fears that inflation will persist, which will lead the Federal Reserve to keep rates higher for longer.
Energy was the best-performing sector, rising more than 2%. Notable gainers include Marathon Oil and Devon Energy, both up more than 4%.
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 4.61% from Tuesday's 4.54%. Treasury prices and yields move in opposite directions.
Oil prices gathered $3.24 to $93.63 U.S. a barrel.
Gold prices cratered $25.20 to $1,894.60.

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