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US Stocks: S&P 500 Ends Down as Oil Tops US$100 per Barrel
Energy shares rose as oil topped $100 a barrel, while traders awaited inflation data and a Treasury bond-buyback plan lifted yields.
- Global stocks fell on Wednesday as entrenched conflict in the Middle East pushed oil prices above $100 a barrel, while bond yields rose to fresh multi-year highs as investors reacted negatively to the Treasury's plan to triple bond buybacks.
- Flaring hostilities in the Middle East drove Brent crude futures near $100 a barrel after Yemen's Tehran-backed Houthis attacked Saudi oil installations, marking a significant expansion of the six-month-old war.
- The Treasury announced it will buy back up to $6 billion of long-dated bonds on Thursday, three times its last buyback, intensifying pressure on yields approaching 5%, a level unsustained in almost two decades.
- Software stocks fell 1.4% and industrials dropped 1.5% as major indices declined, while energy stocks rose 1% as the only sector to gain amid the broader market selloff.
- PIMCO's Lotfi Karoui notes "Balanced portfolios are back: Higher bond yields are restoring fixed income," while investors view the 5% yield as a potential "buy" despite lingering market caution.
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The Toronto Star+5 Reposted by 5 other sources
S&P/TSX composite down, U.S. markets also lower as oil tops US$100 per barrel
TORONTO - Canada's main stock index was down nearly 300 points in late-morning trading, while U.S. stock markets also fell as the price of oil topped US$100 per barrel.
·Toronto, Canada
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The Toronto Stock Exchange fell by almost 300 points on Thursday late in the morning, while the major U.S. indices also plunged, while the price of oil exceeded US$100 per barrel.
·Montreal, Canada
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Ottumwa Courier+8 Reposted by 8 other sources
World shares retreat and oil prices trade above $100 a barrel
World shares are mostly lower following a retreat on Wall Street as the price of crude oil again trades above $100 a barrel. U.S. futures were modestly higher early Thursday. On Wednesday, the S&P 500 lost 0.5% and the Dow…
The price of oil exceeded 100 USD per barrel yesterday, and the price of TTF gas on the European market was 80 EUR/MWh.
·Vilnius, Lithuania
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Total News Sources61
Leaning Left10Leaning Right10Center14Last UpdatedBias Distribution41% Center
Bias Distribution
- 41% of the sources are Center
41% Center
L 30%
C 41%
R 29%
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