As investors awaits facts of when and how the Federal Reserve options to taper its massive monetary stimulus — and with inflation managing as scorching as at any time — at minimum just one investor thinks the market is probably to pull back again from documents as the central financial institution confronts price tag pressures that are throttling corporations and shoppers.
“If they do not confess to the truth that inflation is listed here to continue to be and it is not transitory, they are likely to shed a incredible amount of credibility,” KeyAdvisors Team controlling associate, Eddie Ghabour, told Yahoo Finance Are living on Monday.
Anticipations are working large for the Fed to lay out its programs to unwind $120 billion in month to month bond buys. Ghabour reported the market place is hunting at the Fed’s “tone” in tapering as inflation picks up and advancement slows.
Selling prices are surging almost everywhere, and firms reporting 3rd quarter earnings have pretty much uniformly pointed to headwinds from mounting inflation and the supply chain crisis. The fundamentals must nudge the Fed in a additional “hawkish” way, Ghabour additional, and that could guide stocks to pull back again from their information, at the very least for now.
Even though traders turned “bearish” in September, Ghabour stated that could transform shortly: “I imagine any dips are likely to be bought in this article in the fourth quarter, we carry on to be extremely bullish.”
Continue to if Fed policymakers lay out the strategy to decrease the bond purchasing a lot more quickly than anticipated, it could sign hike rates earlier and a lot quicker than projected next calendar year.
“I consider the Fed has set by themselves in a actually lousy spot because by delaying the tightening system, that means they’re likely to have to accelerate it,” Ghabour reported.
‘Healthy correction’
Yet the leap in inflation has been induced mostly by publish-lockdown need, which stays unusually sturdy even as advancement slows. Tailwinds from the reopening economic climate, however, are remaining negated in part by COVID-19 linked provide chain bottlenecks. Still, Ghabour doesn’t expect Fed officials to increase premiums in the first half of future 12 months like they indicated.
“The lengthier you delay the tightening procedure, the hotter inflation receives and the more substantial hit the client is likely to just take and then finally the marketplace at some place in time,” Ghabour extra.
Final thirty day period, Fed officers signaled that they would start off pulling again on some of the stimulus the central financial institution experienced been furnishing in the course of the fiscal crisis.
That could guide to a “healthy” 15-20{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} correction in the initial element of 2022, Ghabour said, as progress gradually but definitely will come back again to earth.
The of the pandemic-period restoration, as source chain problems and a marked deceleration in purchaser paying out stunted the growth.
Ghabour pointed out that it’s “mathematically impossible” for the buyer to have as considerably discretionary money subsequent year compared to this 12 months mainly because the value of fuel, food items, housing and lease are by way of the roof.
Mixed with decrease advancement and a tightening Fed, “ which is like the worst equation for the current market,” Ghabour included.
Whilst inflation is functioning scorching, the career current market isn’t really back again to entire energy. The , previously mentioned its pre-pandemic level of 3.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
In the meantime, Fed Chair Jerome Powell has reported that he would like the occupation current market to exhibit further enhancement before the Fed commences to raise its critical small-time period level.
“You’re going to get started to see the labor market get much better and more powerful, specially with young ones again to school, and with specific benefits falling off, but comprehend that employers have to pay up, it is a restricted labor market place ideal now,” mentioned Ghabour.
With oil in the vicinity of multi-year highs on soaring world wide desire, the investor sees much more gains in advance for both equally organic gas and crude oil.
“We’re quite bullish on normal gas,” said Ghabour. “We haven’t even hit the cold year yet [but] Europe uses organic fuel so a great deal that we can’t see a scenario exactly where natural gas does not go up.”
In all, he’s suggesting investors should really start out “playing defense” as we head into January and February of upcoming 12 months.
He’s anticipating upcoming 12 months to be a various tale: “inflation will then grow to be a headwind, not a tailwind, not only for economic info, but a perhaps very huge fall in the sector.”
Dani Romero is a reporter for Yahoo Finance. Comply with her on Twitter: @daniromerotv
Wall Avenue rebounded on Friday, led by firms that would reward most from a much healthier financial state, but not by sufficient to hold the inventory marketplace from its worst 7 days due to the fact the winter season.
The S&P 500 rose 49.50, or 1.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, to 4,357.04 subsequent yet another choppy day of trading. It swung involving a loss of .4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a obtain of 1.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} by way of the working day.
The Dow Jones Industrial Typical climbed 482.54 factors, or 1.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, to 34,326.46, and the Nasdaq composite received 118.12, or .8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, to 14,566.70.
Merck assisted pace the market and leaped 8.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} immediately after it stated its experimental tablet to address COVID-19 minimize hospitalizations and deaths by 50 {21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. Prospective customers for an further resource to tame the pandemic assisted elevate shares of airways, hotels and organizations damage by limitations on journey and other activities.
Political Cartoons
United Airways soared 7.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, on line casino operator Caesars Enjoyment swept 6.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} bigger and Dwell Nation Leisure jumped 8.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
Vitality producers, economical organizations and other corporations whose gains are typically closely tied to the economy’s strength have been also encouraging to direct the way.
The market’s common gains weren’t sufficient to make up for a dismal final couple of times. The S&P 500 continue to dropped to a weekly loss of 2.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, its worst considering the fact that February. A swift rise in fascination fees earlier this week rattled the marketplace and compelled a reassessment of whether stocks had developed too highly-priced, especially the most common types.
On Friday, the generate on the 10-year Treasury fell again to 1.46{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from 1.52{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} late Thursday. That’s nevertheless well over its perch of 1.32{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from a 7 days and a half back.
September was also the worst thirty day period for the S&P 500 since March 2020, when markets plunged as COVID-19 shutdowns took maintain. Among the worries that have weighed on the industry: The Federal Reserve is close to allowing off the accelerator on its aid for markets, economic knowledge has a short while ago been combined next an upturn in COVID-19 bacterial infections, corporate tax prices could be established to increase and political turmoil continues in Washington.
There is certainly also higher inflation however enveloping the planet. Oil price ranges rose roughly 2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} this week, approaching a seven-12 months substantial, although all-natural fuel charges have been up about 7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
The Federal Reserve has explained that it expects significant inflation to be only transitory and that it is really the final result of an economic system roaring back to existence from its previously shutdown. But if it is really mistaken, the Fed might have to increase fascination costs previously or a lot more aggressively than it truly is telegraphed to marketplaces.
Economic reviews on Friday were combined. The nation’s manufacturing grew speedier than predicted final thirty day period, but an August looking through for the Federal Reserve’s chosen measure for inflation was a bit increased than forecast. They follow a disappointing report on Thursday displaying much more persons submitted for unemployment gains than predicted.
This kind of data implies “you hear the word ‘stagflation’ arrive up as soon as in a whilst, which would be the worst outcome” stated Wealthy Weiss, main financial investment officer of multi-asset methods at American Century Investments.
Stagflation is when financial advancement stagnates but inflation stays significant. Weiss would not assume that to occur, so lengthy as the pandemic will not result in far more international shutdowns, but he also is not positioning his investments as if he’s optimistic about large potential gains for shares.
“We’re not swinging at the pitch appropriate now,” he stated. “We are neutral.”
Weiss stated the market would want to fall by about a third right before he’d call shares attractively valued primarily based on where interest fees are now, all else equal.
Asian stock markets fell earlier in the working day, irrespective of Japan’s lifting of a pandemic state of unexpected emergency and a survey of massive Japanese producers displaying sentiment at a just about 3-yr superior.
Japan’s Nikkei 225 index slumped 2.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, and South Korea’s Kospi fell 1.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
European inventory indexes also fell.
AP Company Writer Elaine Kurtenbach contributed.
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Buyers are warily eyeing the world strength crunch, the US personal debt ceiling discussion and programs by the US Federal Reserve to wind down some of its pandemic-relevant financial help, among the other things.
By Rita Nazareth and Kamaron LeachBloomberg
Volatility ongoing to roil fiscal marketplaces, with U.S. equities notching their greatest regular selloff considering that March 2020.
Shares pushed reduced on Thursday even right after confirmation that the Dwelling handed a nine-week spending invoice to avert a U.S. government shutdown. For traders, that was just just one within just a litany of risks. Buyers are also bracing for the Federal Reserve to wind down its stimulus amid mounting fears about slowing economic expansion, elevated inflation, supply-chain bottlenecks, a world-wide power crunch and regulatory hazards emanating from China.
Political wrangling in Washington is threatening to force the U.S. into default and drive President Joe Biden to scale back again his spending agenda. Democratic Senator Joe Manchin wishes the social-spending deal reduce by extra than half to $1.5 trillion. Dwelling Speaker Nancy Pelosi was urgent forward with a vote on a bipartisan infrastructure invoice, even even though progressive Democrats reported they have the quantities to stall it till the Senate agrees on a extra expansive tax and spending deal.
“The aged adage, the sector climbs a wall of stress, is not shed on us,” claimed Tom Mantione, managing director at UBS Personal Prosperity Management. “Worries about China, the pandemic, the personal debt ceiling and tax legislation are weighing on traders appropriate now, but it is important to understand which concerns could build structural modify and which kinds create small-time period volatility that investors can get advantage of.”
The S&P 500 shut at the most affordable amount since July, extending its September losses to practically 5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. Economically sensitive firms like industrials and financials had been among the worst performers on Thursday. The slide virtually wiped out the index’s gains for the quarter.
A close to-report technological streak for the S&P 500 has some bulls anxious that a sharp pullback is overdue.
“The S&P 500 has now gone an incredible 317 buying and selling times in a row higher than its 200-day shifting typical, just one of the longest streaks ever,” according to Ryan Detrick, chief marketplace strategist at LPL Money. “What we are getting at is a 5-7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} pullback could potentially come at any time provided we have not had a single in so extensive.”
In other places, oil closed the month virtually 10{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} better just after a tumultuous session for the duration of which China was stated to buy its prime electrical power businesses to secure electrical power supplies at all expenditures amid shortages, prompting the White Dwelling to reiterate its very own issues about climbing selling prices.
In this article are some occasions to enjoy this week:
Univ. of Michigan sentiment, ISM manufacturing, U.S. construction paying out, spending/private earnings, Friday
Some of the most important moves in markets:
Stocks
The S&P 500 fell 1.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} as of 4 p.m. New York time
The Nasdaq 100 fell .4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
The Dow Jones Industrial Average fell 1.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
The MSCI World index fell .6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
Currencies
The Bloomberg Greenback Place Index fell .2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
The euro fell .1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $1.1581
The British pound rose .4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $1.3475
The Japanese yen rose .6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to 111.29 for every dollar
Bonds
The yield on 10-calendar year Treasuries was tiny changed at 1.52{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
Germany’s 10-year yield innovative one foundation level to -.20{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
Britain’s 10-12 months generate innovative three basis points to 1.02{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
Commodities
West Texas Intermediate crude rose .2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $75.01 a barrel
Gold futures rose 2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $1,756.70 an ounce
Stocks traded mixed on Wednesday, with the S&P 500 and Dow ending higher as Treasury yields steadied near multi-month highs.
The Nasdaq ended a choppy session lower, erasing some gains from earlier in the session. The index had closed out Tuesday’s regular session lower by 2.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, posting its biggest drop since March.
The decline in technology stocks came as Treasury yields rapidly rose, with the swift move higher in borrowing costs pressuring valuations for growth and technology stocks.
“A lot of Big Tech is overpriced,” Teddy Parrish, CEO and chief investment officer of Parrish Capital, told Yahoo Finance on Tuesday. “Those valuations are going to have to go a little lower in one or two ways: They either sell off, or earnings continue to go up and the stocks trade sideways. You can have a little of both, but to look at some of these larger tech companies that aren’t growing nearly as fast as their P/E [price-to-earnings] multiples might imply, I think that a lot of them are ahead of themselves.”
The yield on the benchmark 10-year note spiked to as much as 1.56{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, or its highest level since June, before pulling back to just over 1.51{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} Wednesday morning. The 10-year yield has also risen markedly over a relatively short period of time, gaining more than 16 basis points from its low from last Friday to its peak on Tuesday.
Some strategists suggested the latest move lower on Tuesday may not spark a deeper drawdown or formal correction in the very near-term. Cyclical sectors including energy and industrials outperformed, buoyed by rising commodity prices as heightened inflation expectations pushed up prices of everything from crude oil to cotton so far this week.
“I don’t think it’s the start of a correction necessarily, but certainly we’ve seen rotational corrections throughout the entirety of this year,” Art Hogan, National Securities Corporation chief market strategist, told Yahoo Finance of Tuesday’s market moves. “This feels much more like a realignment. So, obviously we get strange machinations in the markets towards the end of a quarter and that’s knocking on the door tomorrow.”
“We certainly have enough of a basket of concerns in general about the future, whether it’s inflation or how sticky that will be, the Fed’s tapering [and] what that might mean towards earnings … and certainly what’s going on in Washington and what they can and can’t accomplish this week,” he added. “I think you bundle all that together with yield on the 10-year that’s risen pretty significantly in a short period of time, and I really think it’s about the pace, not the ultimate level.”
In Washington, lawmakers are racing to pass legislation to fund the government beyond the end of the fiscal year on Thursday. Republican lawmakers have balked at tying a continuing resolution to fund the government with a measure to raise the debt limit through the end of 2022, putting lawmakers at an impasse ahead of a Thursday night deadline to avert a shutdown. This also comes alongside ongoing debates around a bipartisan $1 trillion infrastructure deal and $3.5 trillion budget reconciliation package, with key actions on each of these also set to take place later this week.
“It is really important that we separate the shutdown, which is terrible, from the debt limit, which is catastrophic,” Jason Grumet, Bipartisan Policy Center president, told Yahoo Finance on Tuesday. “There could be, I think, a very short shutdown of the government Friday night going into Saturday, Sunday. And I think that you would then see a short continuing resolution to get the government running again.”
“The government shutdown isn’t really the problem we’re grappling with,” he added. “The problem we’re grappling with really is the debt ceiling. Democrats tried to join them together. That did not make the sale for Republicans. Some Democrats have a different approach on the debt ceiling. But I am not particularly concerned about a government shutdown.”
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4:04 p.m. ET: Stocks end mixed as Treasury yields steady; Dow adds 91 points, or 0.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
Here were the main moves in markets as of 4:04 p.m. ET:
S&P 500 (^GSPC): +6.83 (+0.16{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,359.46
Dow (^DJI): +90.73 (+0.26{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 34,390.72
Nasdaq (^IXIC): -34.24 (-0.24{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 14,512.44
Crude (CL=F): -$0.62 (-0.82{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $74.67 a barrel
Gold (GC=F): -$12.30 (-0.71{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,725.20 per ounce
10-year Treasury (^TNX): +0.7 bps to yield 1.5410{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
—
12:20 p.m. ET: ‘Yesterday’s selloff was really largely driven by rate movement’: CIO
A number of strategists pointed to the speed of the jump in Treasury yields, rather than the absolute level of rates, as the key factor triggering Tuesday’s tech-led selloff in U.S. equities.
“Yesterday’s selloff was really largely driven by rate movement,” Timothy Chubb, chief investment officer for wealth advisory firm Girard, told Yahoo Finance Live on Wednesday. “It wasn’t necessarily the size of the rate movement, [but it was] really the speed that it took place.
“This move taking place over the last 10 days actually was two standard deviations from the mean,” Chubb added. “As has been typical in history, when we see rates rise, the correlation of a steepening yield curve and higher rates on the longer end and through the belly of the [yield] curve that we’ve seen in the last week, [it] tends to bode very well for a lot of cyclical growth assets.”
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10:42 a.m. ET: ‘The market is testing the resolve of lawmakers to do the right thing’: Portfolio Manager
Sparring among lawmakers in Washington, D.C., over government funding and raising the debt ceiling have been a central concern for markets over the past couple weeks, compounding with existing jitters over the outlook for inflation, supply chain constraints and the trajectory of coronavirus infections.
“There’s a reason why September’s one of the worst months for the markets, and one of those reasons is because that’s when the end of the fiscal year is for the U.S. government,” Diane Jaffee, TCW Group senior portfolio manager, told Yahoo Finance Live on Wednesday. “There’re always a lot of power plays and brokering and brinkmanship. And that’s 100{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} true, since everything is really focused on some of these bills here this week.”
Despite the near-term concerns on Capitol Hill, however, the backdrop for equities still appears to be solid, Jaffee maintained.
“It’s not abnormal to have market corrections, three or four short spurts downwards of 3-5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in any calendar year,” she said. We’ve gone several months without anything really hectic, and that’s because we’ve got this tremendous monetary and fiscal stimulus holding us up, being a booster. So while I think there is some nail-biting going around … this lift from the stimulus is really supportive going into 2022. So yes there will be some waves along the way, but the trajectory we think is quite positive for stocks.”
“The market is testing the resolve of lawmakers to do the right thing. A correction is typically 5-10{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996},” she added. “We’re not there yet but we’re bouncing along here. I believe that we are going to come out the other side of even just this week in a better way.”
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10:00 a.m. ET: Pending home sales far exceed expectations in August, rebounding from July dip
Home contract signings jumped far more than expected in August, rising for the first time in three months as improving inventory levels helped partially offset elevated prices and brought more buyers back into the market.
Pending home sales rose 8.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in August month-on-month, according to the National Association of Realtors. This exceeded estimates for a 1.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} monthly rise, based on Bloomberg consensus data. In July, pending home sales fell by 2.0{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, with this figure downwardly revised from the 1.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} drop previously reported.
“Rising inventory and moderating price conditions are bringing buyers back to the market,” Lawrence Yun, NAR’s chief economist, said in a press statement. “Affordability, however, remains challenging as home price gains are roughly three times wage growth.”
Even after the August jump, pending home sales were still down 6.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on a seasonally unadjusted basis compared to last year, when low interest rates and demand for more space pushed up sales. However, this was better than July’s 9.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} year-over-year drop in contract signings.
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9:30 a.m. ET: Stocks open higher as Treasury yields pull back
The three major indexes held onto overnight gains to open higher Wednesday morning, buoyed by some moderation in Treasury yields.
The Nasdaq opened higher by about 0.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, recouping some of its 2.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} drop on Tuesday. The S&P 500 and Dow also traded in the green.
U.S. crude oil prices gave back some recent gains, dropping 0.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to trade below $75 per barrel. Brent crude also pulled back from a three-year high reached earlier this week.
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7:24 a.m. ET Wednesday: Stock futures recover some losses after Nasdaq’s worst day since March
Here’s where markets were trading Wednesday morning:
S&P 500 futures (ES=F): +24 points (+0.55{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}), to 4,367.5
Dow futures (YM=F): +165 points (+0.48{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}), to 34,340.00
Nasdaq futures (NQ=F): +13.5 points (+0.09{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 14,778.25
Crude (CL=F): -$0.44 (-0.58{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $74.85 a barrel
Gold (GC=F): +$6.30 (+0.36{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,743.80 per ounce
10-year Treasury (^TNX): -2.3 bps to yield 1.513{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
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6:15 p.m. ET Tuesday: Stock futures edge higher
Here were the main moves in markets as of Tuesday evening:
S&P 500 futures (ES=F): +7.5 points (+0.17{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}), to 4,351.00
Dow futures (YM=F): +76 points (+0.22{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}), to 34,251.00
Nasdaq futures (NQ=F): +13.5 points (+0.09{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 14,778.25
Traders work at the trading floor in the New York Stock Exchange in New York, the United States, Aug. 19, 2021. The S&P 500 Index closed at 4,405.80 points, up 5.53 points, or 0.13 percent. The Dow Jones Industrial Average closed at 34,894.12 points, down 66.57 points, or 0.19 percent.The Nasdaq Composite Index closed at 14,541.79 points, up 15.88 points, or 0.11 percent. (Photo by Wang Ying/Xinhua via Getty Images)
