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Live Markets: Wall Street stocks finish lower as rising crude prices weaken sentiment

LIVE MARKETS-Wall Street stocks finish lower as rising crude prices weaken sentiment

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Wall Street indexes dip; Dow leads losses, off 0.70%

Comms svcs leads S&P 500 sector losses, energy and technology rise

Dollar dips, US crude up >2%, gold slips ~0.1%, bitcoin rises

US 10-year Treasury yields rise to ~4.76 %

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WALL STREET STOCKS FINISH LOWER AS RISING CRUDE PRICES WEAKEN SENTIMENT

U.S. stocks closed lower on Monday as rising crude prices, following a renewed escalation of hostilities in the Middle East, weighed on investor sentiment.

Investors were also assessing what was seen as a hawkish message from Federal Reserve Chair Jerome Powell at the Jackson Hole symposium on Friday, where he reaffirmed the central bank's commitment to its inflation target, pushing U.S. Treasury yields higher.

Traders are pricing in a 66% chance of a 25-basis-point interest rate increase in September, according to CME's FedWatch tool.

Most S&P 500 sectors ended the session in negative territory. Take-Two Interactive TTWO.O shares fell 6.7%, making the videogame publisher the biggest percentage decliner and one of the biggest drags on the communication services sector .SPLRCL, the weakest S&P 500 sector.

Energy stocks .SPNY led sector gains, followed by technology shares .SPLRCT.

Tesla TSLA.O rose 5.5% for its biggest percentage gain since July 6. It was the second biggest boost to the S&P 500 behind Nvidia NVDA.O, which rose 1.5%.

Here is the closing market snapshot:

(Chibuike Oguh)

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EARLIER ON LIVE MARKETS:

TAKE-TWO SKID LEADS COMMUNICATIONS SERVICES SECTOR LOSSES CLICK HERE

THE MARKET MAY BE WRONG ABOUT SEPTEMBER: MORGAN STANLEY CLICK HERE

WARSH SPEECH RAISES STAKES FOR SEPTEMBER FED DECISION, BOFA SAYS CLICK HERE

TIME TO STRADDLE MIDTERM VOLATILITY CLICK HERE

WALL STREET INDEXES OPEN LOWER AS OIL RALLIES CLICK HERE

GERMAN REGIONAL VOTES MAY TEST BERLIN, NOT MARKETS CLICK HERE

GOLDMAN TAKES A FACTOR APPROACH TO FX MARKETS CLICK HERE

SEPTEMBER'S WEAK RECORD BACK IN FOCUS CLICK HERE

STOXX DIPS BUT SET FOR FIFTH MONTHLY GAIN CLICK HERE

BEFORE THE BELL: EUROPE WEAKER, ENERGY STOCKS UP CLICK HERE

OIL CLIMBS AS MISSILES FLY IN THE GULF CLICK HERE


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