Mid-day markets: US indices up and down after Tuesday’s big fall
By Joseph Toppe
17:27, 15 September 2021
Shares are trading mixed Wednesday following the Dow’s drop of over 290 points yesterday.
At noon EDT, the Dow Jones Industrial Average is trading 96 points, or 0.3% higher, after falling 292 points during trading on Tuesday to finish the session at 34,577.
The S&P 500 improved 0.3% and is only 2% off its all-time high made on 2 September this year.
Meanwhile, the Nasdaq Composite is little changed.
Key gains and losses
Shares for Yum China Holdings sank 6.7% after the company announced a profit decrease for the third quarter amid Covid-19 cases spiking in China.
Darktrace improved 13.6% following the company’s decision to raise its forecast after its latest earnings report.
Softbank tumbled 6% as a continued regulatory investigation clouds the Chinese technology sector while Microsoft added 0.9% after the company raised its dividend 11% and announced a plan to repurchase up to $60bn of its shares.
Meanwhile, Regeneron Pharmaceuticals gained 0.9%, Sage Therapeutics improved 3.9%, Wynn Resorts dipped 7.3%, and Las Vegas Sands lost 4%.
In assets, the yield on 10-year Treasury notes improved to 1.292% from 1.276% Tuesday, while in energy, shares for Chevron were up 1.7% as one of the Dow’s best performers on the day.
What is your sentiment on US30?
Global market watch
Hong Kong’s Hang Seng Index sank 1.8%, while the pan-European Stoxx 600 shed 0.8%, representing growing inflation in the UK which surged 3.2% in August.
Read more: Canada inflation ticks upward to 4.1%