LCID - Midday Market Update: Why Are Stocks Down Today?
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The stock market isn’t doing so hot on Tuesday and we’re diving into the reasons why in our midday market update.
So why are stocks down today? There are a few factors affecting the stock market today. Among them is the rising price of oil. Prices have jumped above $80 a barrel, which is the first time it’s broken that price point since 2018.
This is leading to fears of an energy crisis this winter. Some predictions claim temperatures are going to be too cool for suppliers to meet demand. As a result, countries around the world could continue to see the price of oil rise higher in the coming months.
To go along with that, we’re also seeing uncertainty surrounding bond yields as the Federal Reserve prepares to recalibrate. That’s coming after its boosts that went into effect during the pandemic.
Another concern for investors comes from Treasury Secretary Janet Yellen. She warns that the approaching debt ceiling could cut spending if not raised or suspended. That means legislators will have to come to an agreement on the federal debt limit, reports Bloomberg.
Of course, there’s also no denying the fear that comes from the novel coronavirus. Investors are still unsure about recovering markets as talk of the Delta variant spreading has some shareholders uncertain about their investments.
Traders will want to keep all of this in mind while doing business today. Make your decisions with a clear head and don’t fall into panic selling.
We’ve got more stock news outside of the midday market update worth looking into below!
InvestorPlace offers daily coverage of the stock market and today is no different. A few examples of stories to check out include an update on this week’s Lucid Motors (NASDAQ:LCID) event, what has Camber Energy (NYSEAMERICAN:CEI) rising higher, as well as price predictions for Aurora Cannabis (NASDAQ:ACB). You can learn all about these stocks at the following link!
More Tuesday Stock Market News
- LCID Stock Dips Tuesday Despite ‘Electric’ Lucid Event Update
- Camber Energy Alert: What’s Going on With New Meme Favorite CEI Stock Today?
- Aurora Cannabis Price Predictions: Where Is ACB Stock Going After Earnings?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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