Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Sept 22 - The S&P 500 and the Nasdaq made a slight recovery on Friday as Treasury yields retreated from multi-year highs, while shares of Ford jumped on news of progress in labor talks with workers' union.
Despite the slight recovery, the benchmark S&P 500 and the tech-heavy Nasdaq were on track for their worst week since March after the U.S. central bank delivered a hawkish pause on Wednesday, dampening hopes for policy easing before 2025. Traders' bets on the benchmark rate remaining unchanged in November and December stood at 73% and 58%, respectively, according to CME's FedWatch tool.
At 9:51 a.m. ET, the Dow Jones Industrial Average was down 18.46 points, or 0.05%, at 34,051.96, the S&P 500 was up 8.75 points, or 0.20%, at 4,338.75, and the Nasdaq Composite was up 56.87 points, or 0.43%, at 13,280.86. Wayfair rose 2.3% after Bernstein upgraded the online furniture retailer to"market perform" from"underperform", while Charter Communications gained 0.7% after Wells Fargo upgraded the cable company to"overweight" from"equal weight".
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