STOCK MARKET NEWS: Futures add to declines, oil’s losing week


U.S. equity futures are adding to losses following three days of declines after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession.

The major futures indexes suggest a decline of 0.8% when Wall Street begins trading.

The yield on the 10-year Treasury, which influences mortgage rates, was at 3.68% on Friday.

Oil prices fell Friday amid recession fears and a stronger U.S. dollar, though losses were capped by supply concerns.

West Texas Intermediate (WTI) crude futures were trading around $83.00.

Brent crude futures traded around $89.00 per barrel.

For the week the contracts for TWI and Brent were down 2.3% and 1.5% respectively.

In Asia, Hong Kong’s Hang Seng sank 1.2% and China’s Shanghai Composite Index lost 0.7%. Japanese markets were closed for a holiday.

The S&P 500 lost 0.8% on Thursday to 3,757.99. The Dow Jones Industrial Average fell 0.4% to 30,076.68 and the Nasdaq composite slid 1.4% to 11,066.81.





2022-09-23 14:59:42

Leave a Comment