Stock Market Update
11-Sep-24 11:30 ET
Energy sector sharply lower despite positive price action in commodities
Dow -540.56
at 40196.40,
Nasdaq -107.05
at 16918.81,
S&P -59.85
at 5435.67
[BRIEFING.COM] The major indices are still under pressure. The S&P 500 is down 1.1%.
A short time ago, the weekly EIA Crude Oil Inventories showed a build of 833,000 barrels following last week's draw of 6.87 million barrels. WTI crude oil futures are 2% higher at $66.57/bbl after briefly dipping below $66.00/bbl.
Natural gas futures are also higher, up 3.5% to $2.31/mmbtu, but the positive price action hasn't translated into gains for the S&P 500 energy sector. It is among ghe worst performing sectors, trading 1.7% lower.
The 2-yr note yield is at 3.66% now and the 10-yr note yield is at 3.67% now.
