Stock Market Update
05-Sep-24 11:05 ET
S&P 500 flirts with 50-day moving average; Commodity futures bounce
Dow -215.56
at 40759.41,
Nasdaq +32.29
at 17116.57,
S&P -14.52
at 5505.55
[BRIEFING.COM] The S&P 500 sports a slim decline, trading near its 50-day moving average.
A short time ago, the weekly EIA Natural Gas Inventories showed a build of 13 bcf versus a build of 35 bcf last week. Natural gas futures are up 6.0% to $2.28/mmbtu.
Oil prices are exhibiting some rebound action also after slipping below $70.00/bbl. WTI crude oil futures are up 2.2% to $70.71/bbl.
The price action in commodity futures has contributed to the upside action in the S&P 500 energy sector, which sports a 0.1% gain.
The weekly EIA Crude Oil Inventories showed a draw of 6.87 million barrels following last week's draw of 846,000 barrels.
