The Dow Jones Industrial Average dropped 0.80% to 27463, and the S&P 500 fell 0.30% to 3390, while Nasdaq 100 rebounded 0.82% to 11598
On Tuesday, U.S. stocks closed mixed. The Dow Jones Industrial Average fell a further 222 points (-0.80%) to 27463, and the S&P 500 dropped 10 points (-0.30%) to 3390. Meanwhile, the tech-heavy Nasdaq 100 rebounded 94 points (+0.82%) to 11598 before big technology firms report results.
The While House hinted that a fiscal stimulus deal is unlikely before the November 3 election.
Retailing (+1.16%), Media (+0.84%) and Technology Hardware & Equipment (+0.81%) sectors performed the best, while Banks (-2.73%), Capital Goods (-2.6%) and Automobiles & Components (-2.09%) sectors lagged behind. Harley-Davidson (+22.07%) became the top gainer after its quarterly results beat market expectations.
Semiconductor designer Advanced Micro Devices (-4.07%) said it has agreed to buy Xilinx (+8.56%) in a $35 billion all-stock deal.
Approximately 70% of stocks in the S&P 500 Index were trading above their 200-day moving average and 42% were trading above their 20-day moving average.
The VIX Index, Wall Street’s fear gauge, charged 0.89 point higher (+2.74%) to 33.35.
In after-market hours, Microsoft declined over 1% despite reporting better-than-expected results.
Regarding U.S. economic data, Durable Goods Orders jumped 1.9% on month in September. The Conference Board Consumer Confidence Index unexpectedly declined to 100.9 in October.
U.S. Treasury prices extended their rally, as the benchmark 10-year Treasury yield sank further to 0.776%.
Spot gold rose $5 (+0.27%) to $1,907 an ounce.
U.S. WTI crude futures (December) jumped $0.90 (+2.33%) to $39.46 a barrel.
On the forex front, the U.S. dollar held its strength against other major currencies. The ICE Dollar Index edged up to 93.09.
EUR/USD lost the key 1.1800 level as it eased 0.12% to 1.1795, while USD/JPY failed to regain the 105.00 level sliding 0.40% to 104.41.
GBP/USD added 0.15% to 1.3044, and AUD/USD edged up to 0.7128 from 0.7123 in the prior session.
USD/CAD retreated 0.21% to 1.3184. Canada’s central bank will discuss interest rates later today and is expected to hold its key rate unchanged at 0.25%.
Meanwhile, the Turkish lira hit a record low of 8.2050 against the U.S. dollar, as investors were worried about rising inflation in Turkey.