S&P 500 Cons Staples Futures Market News and Commentary
The S&P 500 Index ($SPX) on Wednesday closed down -0.16%, the Dow Jones Industrials Index ($DOWI) closed down -0.58%, and the Nasdaq 100 Index ($IUXX) closed up +0.60%.
U.S. stock indexes on Wednesday settled mixed, with the Nasdaq 100 Index at a 2-week high. Uneven economic data on Wednesday, along with concern that economic growth will suffer from pandemic restrictions, weighed on stock prices. A +2.1% rally in Amazon.com and a +0.7% increase in Apple led to gains in technology stocks on Wednesday and helped push the Nasdaq 100 higher.
Weakness in European bank stocks on Wednesday weighed on U.S. bank stocks after the ECB in its Financial Stability Review said that Eurozone banks would probably have to set aside more money to cover losses when government pandemic support ends as some companies won't be able to cover debt repayments.
Wednesday's U.S. economic data was mixed for stocks. On the positive side, U.S. Oct capital goods orders n... Read more