Equity world-U.S. stock exchanges closed lower in late trade Wednesday despite a weakening crude oil prices depressed in the middle of the busiest single day in season earnings reports issuers.
U.S. crude oil for December delivery down 56 cents, or 1.11%, being settled at $ 49.96 a barrel ahead of weekly inventory data and as a difference of opinion between OPEC members creates uncertainty about the decline in crude oil production.
Index Dow Jones Industrial Average closed down about 50 points lower, with shares of 3 m contributed most in the loss of almost 33 points, offsetting a rise about 20 points from Procter & Gamble. The S P 500 index & down about 0.4 percent, with the consumer discretionary sector fell 1.2 per cent to lead the decline.
The Nasdaq composite index fell about half a percent. Earlier, the three major indexes traded slightly higher. The U.S. dollar traded flat to decline against a basket of currencies, near 98.69, after penetrating above 99 for the first time since February, according to FactSet.
The euro traded close to $ 1.089, while the yen was trading around 104.2. More than 90 companies scheduled to post quarterly results on Tuesday. Issuers Dow 3 m, Caterpillar and DuPont reported earnings before the Bell. Caterpillar and 3 m had mixed results, as both beat estimates on the bottom, while the misses on earnings. Caterpillar also lowered earnings projections 2016 per share. Technology giant Apple is scheduled to report quarterly results Tuesday after the bell.
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The Fed is scheduled to hold its next monetary policy meeting next week, and most are expected to maintain interest rates unchanged. Atlanta Fed President Dennis Lockhart speaks on Tuesday, but did not comment on the monetary policy of the central bank enters quiet period. In economic news, consumer confidence reached 98.6, with economists surveyed by Reuters predicted the confidence to reach 101.5. Meanwhile, U.S. home prices rose slightly in August from July, with the index S P & CoreLogic Case-Shiller 20-City get 5.1 per cent compared to the year.
The U.S. Treasury is mixed, with the two-year yield near 0.85 percent and the 10-year benchmark yield approximately 1.76 per cent. Index Dow Jones Industrial Average was down 53.76 points, or 0.3 per cent, to close at 169.27, 18, with the highest decline in shares of Home Depot stock Procter and Gamble rose & highest. Index of S P 500 skidded & 8.17 0.38 points, or percent, to become ends in 2, 143.16, consumer discretionary sectors led by nine lower sector and sector utilities and consumer staples are up.
The Nasdaq index was down 26.43 points, or 0.5 percent, to 5, 283.4. Night will be released September New Home Sales data indicated declining. Also to be released weekly crude inventory data by the EIA indicated an increase in supplies. If unrealized will depress the price of crude oil. Analyst equity Research Center estimated stock Wall Street will move the weak New Home Sales data if unrealized the negative and crude oil price decreased unrealized.
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