USB - US Stocks Set For Weak Open Ahead Of Tesla Q3 Print: Why This Analyst Is Skeptical Of S&P 500 Recovery To Early 2022 High | Benzinga
U.S. stocks faced another setback on Wednesday due to uncertainty surrounding interest rates and inflation. Bond yields eased slightly but remained above recent levels. Traders are closely monitoring statements from multiple Federal Reserve speakers today.
Mixed earnings reports are affecting market sentiment, with Tesla Inc‘s (NASDAQ:TSLA) third-quarter print being the top draw for Wednesday. Other factors influencing traders include the spike in oil prices, sluggish Chinese economic growth, Middle East tensions, and the ongoing House Speaker election stalemate in Capitol Hill.
Cues From Tuesday’s Trading
A robust September retail sales report caused bond yields to surge, raising concerns about more Fed interest rate hikes. Geopolitical tensions in the Middle East, particularly Israel’s actions, and the House Speaker election deadlock added to the market’s challenges.
Major indices opened lower and later rebounded into positive territory but couldn’t maintain those gains. The final result was mixed, with the S&P 500 and Nasdaq in the red, while the Dow Industrials saw marginal gains, boosted by positive earnings reports from some of its components.
Small-cap stocks continued their recent upward trend and are now positive for the year.
In sector performance, IT and real estate stocks declined, while energy, IT services, financial, and material stocks made gains.
US Index Performance On Tuesday
Index Performance (+/-) Value
Nasdaq Composite -0.25% 13,533.75
S&P 500 ...