A bit of dithering on the US shares front today though small gains still meant record highs almost all round: the S&P 500 index ended the day at 2,498 while the Dow Jones Industrial Average climbed +0.2% to 22,158.
The main commodity news was oil, up more than +2% after more evidence from the International Energy Agency that global crude production was stuttering. The US government also revealed a chunky slip in petrol stockpiles. Some of the imbalance was blamed on Hurricane Harvey.
“Outright benchmark crude prices gained in August, reflecting higher demand in the northern hemisphere and tight physical markets for oil products," the Paris-based International Energy Agency confirmed earlier.
Some disappointment for Apple with its share price slipping more than -1.1% on the back of a less-than-adulatory response to its $1,000 iPhone X. Meanwhile the US producer price index climbed +0.2% in August the government said earlier today with the uptick blamed on higher consumer fuel prices.
- Dow 22,158 +0.18%
- S&P 500 2,498 +0.08%
- Nasdaq 6,460 +0.09%
- Russell 2000 1,426 +0.24%
- NYSE Composite 12,055 -0.02%
- Gold 1,321.79 -0.47
- Oil WTI $49.34 +2.03%
- 10-Year Treasury 2.19 +0.03%
Earlier Wells Fargo expressed concern on the performance of Limited Brands’ Victoria’s Secret retail chain. Is there a danger the super-successful retailer, whose product mainstay is lingerie, make-up and sleepwear, is losing touch with its core client base – teenage girls?