US open: Stocks steady as inflation continues to ebb.


Wall Street was on a firmer footing on the last trading day of the third quarter as a key inflation indicator printed slightly below the consensus forecasts.

New York City

Source: Sharecast

"The September rut in stock indices paused into quarter end as both Eurozone and the Fed's preferred PCE inflation measure slow down," said Axel Rudolph, senior market analyst at IG.

"A lower oil price, US yields and US dollar also help sentiment, despite the greenback remaining on track for its eleventh consecutive week of gains."

As of 1606 BST, the Dow Jones Industrials was edging lower by 0.03% to 33,657.64, alongside a 0.37% rise on the S&P 500 to 4,315.1.

The Nasdaq Composite meanwhile was rebounding 0.91% to 13,325.84.

Key to the steadier tone to financial markets, the yield on the benchmark 10-year U.S. Treasury note was six basis points lower to 4.54%.

That was triggered by news that the core price deflator for personal consumption expenditures - the Fed's preferred inflation gauge - rose by just 0.1% month-on-month in August (consensus: 0.2%).

The University of Michigan's consumer confidence index dipped from a reading of 69.5 for August to 68.1 in September (Preliminary: 67.7).

However, MNI's Chicago factory purchasing managers' index retreated from August's reading of 48.7 to 44.1.

Dow Jones - Risers

Nike Inc. (NKE) $96.32 7.46%
Walgreens Boots Alliance, Inc. (WBA) $22.34 6.89%
Intel Corp. (INTC) $35.84 1.88%
Salesforce.Com Inc. (CRM) $206.20 1.48%
Microsoft Corp. (MSFT) $318.02 1.40%
Apple Inc. (AAPL) $172.68 1.17%
Dow Chemical Co. (DOW) $51.47 1.05%
Walt Disney Co. (DIS) $80.96 1.04%
Boeing Co. (BA) $191.94 0.79%
3M Co. (MMM) $93.93 0.72%

Dow Jones - Fallers

Travelers Company Inc. (TRV) $165.02 -1.55%
Chevron Corp. (CVX) $168.60 -1.17%
Walmart Inc. (WMT) $161.19 -0.83%
Merck & Co. Inc. (MRK) $103.76 -0.52%
Caterpillar Inc. (CAT) $275.11 -0.41%
McDonald's Corp. (MCD) $264.58 -0.38%
Unitedhealth Group Inc. (UNH) $508.40 -0.33%
Johnson & Johnson (JNJ) $156.42 -0.29%
Amgen Inc. (AMGN) $270.20 -0.23%
Dowdupont Inc. (DWDP) $0.00 0.00%

S&P 500 - Risers

Nike Inc. (NKE) $96.32 7.46%
VF Corp. (VFC) $17.76 7.05%
Walgreens Boots Alliance, Inc. (WBA) $22.34 6.89%
Kohls Corp. (KSS) $21.47 6.79%
Hanesbrands Inc. (HBI) $3.82 5.97%
Under Armour Inc. Class A (UAA) $6.91 5.42%
Micron Technology Inc. (MU) $68.72 5.40%
Under Armour, Inc. (UA) $6.41 5.16%
Zions Bancorporation (ZION) $35.51 4.59%
Keycorp (KEY) $10.95 4.13%

S&P 500 - Fallers

Carnival Corp. (CCL) $13.74 -4.81%
Helmerich & Payne Inc. (HP) $42.26 -4.04%
Schlumberger Ltd. (SLB) $58.60 -3.84%
Halliburton Co. (HAL) $40.38 -3.37%
Norwegian Cruise Line Holdings Ltd (NCLH) $16.38 -3.31%
FMC Technologies Inc. (FTI) $20.34 -2.87%
Valero Energy Corp. (VLO) $143.18 -2.72%
Marathon Petroleum Corporation (MPC) $150.65 -2.45%
Hess Corp. (HES) $152.83 -2.43%
Phillips 66 Common Stock (PSX) $120.51 -2.33%

Nasdaq 100 - Risers

Walgreens Boots Alliance, Inc. (WBA) $22.34 6.89%
Micron Technology Inc. (MU) $68.72 5.40%
Qurate Retail Inc. (QRTEA) $0.60 3.67%
Illumina Inc. (ILMN) $136.40 3.06%
Wynn Resorts Ltd. (WYNN) $94.15 3.05%
Tesla Inc (TSLA) $253.88 3.04%
Asml Holdings N.V. (ASML) $596.52 2.73%
Adobe Systems Inc. (ADBE) $517.21 2.48%
Workday, Inc. (WDAY) $216.38 2.44%
Skyworks Solutions Inc. (SWKS) $100.28 2.44%

Nasdaq 100 - Fallers

Marriott International - Class A (MAR) $197.72 -0.92%
Regeneron Pharmaceuticals Inc. (REGN) $827.46 -0.85%
Charter Communications Inc. (CHTR) $441.14 -0.75%
Fastenal Co. (FAST) $55.26 -0.71%
Comcast Corp. (CMCSA) $44.54 -0.70%
Incyte Corp. (INCY) $58.20 -0.70%
Vodafone Group Plc ADS (VOD) $9.48 -0.68%
Verisk Analytics Inc. (VRSK) $239.10 -0.60%
Biomarin Pharmaceutical Inc. (BMRN) $88.99 -0.29%
Paychex Inc. (PAYX) $116.84 -0.24%

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.