Live Markets: U.S. indexes open slightly higher, lose some ground after data

Discover Financial Services

24/09/2024 15:29

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      U.S. indexes mixed: Nasdaq, S&P lower, Dow edges up
    

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      Materials lead S&P 500 sector gainers; Financials weakest
group 
    

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      Euro STOXX 600 index up ~0.5%
    

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      Dollar down; Bitcoin dips; gold up, crude rises ~2%
    

        * 
      U.S. 10-Year Treasury yield edges up to ~3.75%
    

  
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    U.S. INDEXES OPEN SLIGHTLY HIGHER, LOSE SOME GROUND AFTER
DATA
    Wall Street indexes opened slightly higher on Tuesday, but
then the S&P 500  .SPX  and Nasdaq  .IXIC  lost ground after
consumer confidence data. Earlier a Federal Reserve official had
voiced some concerns about inflation, while other data showed
that housing prices edged up. 
    The Conference Board data showed the U.S. September consumer
confidence index at 98.7 versus the consensus expectation for
104.0, but August was revised up to 105.6 from 103.3. 
    U.S. Federal Reserve Governor Michelle Bowman said key
inflation measures remain "uncomfortably above" the Fed's 2%
target, warranting caution. While Bowman agreed it's time for
the Fed to reset monetary policy, she dissented to last week's
half-point rate reduction in favor of a quarter-point cut as
"the upside risks to inflation remain prominent."
    On the data front, U.S. single-family home prices edged up
in July, but the overall trend is slowing amid improving supply,
which together with easing mortgage rates could make buying a
house more affordable.
    However, among the S&P 500's 11 major sectors only five are
were advancing with materials  .SPLRCM  leading the charge with
a more than 1% gain. Mining stocks are getting a boost after
China rolled out a stimulus package.
    Financials are the biggest laggard, off 0.5%, with credit
card companies Visa  V.N , Mastercard  MA.N  and Discover
Financial Services  DFS.N  the biggest percentage decliners.
    Bloomberg News had reported on Monday that the U.S.
Department of Justice plans to file a lawsuit against Visa,
alleging that the world's largest payments network operator 
company illegally monopolized the country's debit card market. 
    Here is your snapshot from around 10:18 a.m ET/ 1418 GMT:
      
    
    (Sinéad Carew)
     *****   
    
    
    FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:
    
    BENCHMARK TREASURY YIELD PERKS UP, AWAITS PCE - CLICK HERE
    
    ANOTHER CUT TO LUXURY EARNING - CLICK HERE
    
    MORE LOVE FOR US SMALL CAPS - CLICK HERE
    
    CHINA POP FOR MINERS, LUXURY AND AUTOS - CLICK HERE
    
    DAX FUTURES HIT RECORD HIGH - CLICK HERE
    
    NO BAZOOKA, BUT CHINA'S LATEST STIMULUS IS A RELIEF - CLICK
HERE
      
    

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Wall Street indexes mixed    https://tmsnrt.rs/3TINaYO
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